ITT Inc. (NYSE:ITT) Director Orlando D. Ashford sold 2,062 shares of the business’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $90.00, for a total value of $185,580.00. Following the transaction, the director now directly owns 14,542 shares of the company’s stock, valued at approximately $1,308,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of ITT stock opened at $87.41 on Friday. The business’s 50 day simple moving average is $95.25 and its 200 day simple moving average is $93.02. ITT Inc. has a one year low of $57.13 and a one year high of $101.32. The stock has a market capitalization of $7.53 billion, a PE ratio of 118.12, a PEG ratio of 1.45 and a beta of 1.59.
ITT (NYSE:ITT) last announced its earnings results on Thursday, August 5th. The conglomerate reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. ITT had a return on equity of 15.86% and a net margin of 2.41%. The business had revenue of $691.60 million for the quarter, compared to analysts’ expectations of $644.43 million. Sell-side analysts predict that ITT Inc. will post 4.01 earnings per share for the current year.
Several research analysts have commented on ITT shares. Oppenheimer boosted their target price on ITT from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. TheStreet downgraded ITT from a “b” rating to a “c+” rating in a research note on Friday, August 6th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating and set a $103.00 target price for the company. in a research note on Monday, August 9th. assumed coverage on ITT in a research note on Tuesday, June 15th. They issued a “buy” rating and a $113.00 price objective for the company. Finally, KeyCorp upped their price objective on ITT from $105.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, ITT currently has a consensus rating of “Buy” and a consensus price target of $103.22.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in ITT by 0.9% in the second quarter. Vanguard Group Inc. now owns 8,380,819 shares of the conglomerate’s stock valued at $767,600,000 after acquiring an additional 76,020 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ITT by 2.8% in the first quarter. JPMorgan Chase & Co. now owns 8,378,787 shares of the conglomerate’s stock valued at $761,715,000 after acquiring an additional 231,649 shares during the last quarter. BlackRock Inc. boosted its holdings in ITT by 0.7% in the second quarter. BlackRock Inc. now owns 7,461,799 shares of the conglomerate’s stock valued at $683,424,000 after acquiring an additional 50,281 shares during the last quarter. Capital International Investors boosted its holdings in shares of ITT by 124.1% during the 2nd quarter. Capital International Investors now owns 5,517,559 shares of the conglomerate’s stock worth $505,353,000 after buying an additional 3,055,684 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of ITT by 9.8% during the 1st quarter. Boston Partners now owns 3,140,428 shares of the conglomerate’s stock worth $285,522,000 after buying an additional 280,124 shares in the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.
ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.
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