ITT Inc. (NYSE:ITT) was upgraded by stock analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $55.00 price target on the conglomerate’s stock, up from their previous price target of $46.00. Deutsche Bank AG’s price target indicates a potential upside of 20.88% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of ITT from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Tuesday, July 18th. ValuEngine upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price target on shares of ITT in a report on Wednesday, August 16th. Finally, Cowen and Company restated a “buy” rating and set a $50.00 price target on shares of ITT in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $48.00.
ITT (NYSE ITT) opened at 45.50 on Monday. ITT has a 52-week low of $32.46 and a 52-week high of $46.76. The firm has a 50-day moving average price of $42.25 and a 200 day moving average price of $40.76. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 19.49 and a beta of 1.48.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, August 4th. The conglomerate reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. ITT’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. On average, equities research analysts predict that ITT will post $2.47 EPS for the current year.
In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total transaction of $214,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in ITT. BlackRock Inc. raised its position in shares of ITT by 10,370.9% during the first quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock valued at $298,717,000 after buying an additional 7,212,684 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of ITT during the second quarter valued at about $122,628,000. Wedge Capital Management L L P NC acquired a new position in shares of ITT during the second quarter valued at about $27,785,000. LSV Asset Management raised its position in shares of ITT by 57.1% during the second quarter. LSV Asset Management now owns 1,614,577 shares of the conglomerate’s stock valued at $64,873,000 after buying an additional 587,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of ITT by 6.1% during the first quarter. Vanguard Group Inc. now owns 7,940,146 shares of the conglomerate’s stock valued at $325,705,000 after buying an additional 454,454 shares during the last quarter. 92.58% of the stock is owned by institutional investors and hedge funds.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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