ITT (NYSE:ITT) Stock: Insider Mesa Graziano Cheryl De Sells 500 Shares

ITT Inc. (NYSE:ITT) CAO Graziano De sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $214.01, for a total transaction of $107,005.00. Following the sale, the chief accounting officer owned 6,659 shares in the company, valued at approximately $1,425,092.59. This trade represents a 6.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ITT Trading Down 1.6%

ITT stock traded down $3.48 during midday trading on Friday, hitting $211.11. The stock had a trading volume of 713,022 shares, compared to its average volume of 933,253. The company’s 50-day moving average price is $202.59 and its 200 day moving average price is $200.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.29 and a quick ratio of 0.85. The firm has a market cap of $18.83 billion, a PE ratio of 43.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.25. ITT Inc. has a 12-month low of $166.96 and a 12-month high of $230.32.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.18. ITT had a return on equity of 15.47% and a net margin of 8.07%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $1.78 EPS. ITT’s revenue was up 44.2% on a year-over-year basis. On average, equities research analysts predict that ITT Inc. will post 8.60 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a $0.3860 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. ITT’s payout ratio is currently 31.69%.

Hedge Funds Weigh In On ITT

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of ITT during the 2nd quarter worth $1,715,593,000. Findlay Park Partners LLP acquired a new position in ITT in the second quarter valued at $276,395,000. Bank of America Corp DE acquired a new position in ITT in the second quarter valued at $173,436,000. Wellington Management Group LLP boosted its holdings in ITT by 16.5% in the second quarter. Wellington Management Group LLP now owns 825,147 shares of the conglomerate’s stock valued at $163,181,000 after acquiring an additional 117,155 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in ITT during the second quarter valued at about $127,872,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Analyst Upgrades and Downgrades

ITT has been the subject of several analyst reports. Wolfe Research initiated coverage on ITT in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $273.00 price target on shares of ITT in a research note on Friday, August 7th. Stifel Nicolaus raised their price target on ITT from $256.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, November 9th. DA Davidson lifted their price target on ITT from $255.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, KeyCorp upped their price objective on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and a consensus price target of $258.78.

About ITT

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.