ITT Inc (NYSE:ITT) CFO Thomas M. Scalera sold 64,135 shares of ITT stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.57, for a total value of $3,948,791.95. Following the transaction, the chief financial officer now directly owns 73,701 shares in the company, valued at approximately $4,537,770.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
ITT stock traded up $0.23 during midday trading on Thursday, hitting $58.62. 352,835 shares of the stock were exchanged, compared to its average volume of 606,942. The stock has a market cap of $5.07 billion, a PE ratio of 18.15, a P/E/G ratio of 1.78 and a beta of 1.63. ITT Inc has a fifty-two week low of $44.89 and a fifty-two week high of $63.54.
ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, May 3rd. The conglomerate reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. ITT had a return on equity of 16.69% and a net margin of 11.04%. The firm had revenue of $695.50 million during the quarter, compared to analysts’ expectations of $682.49 million. During the same period in the previous year, the firm posted $0.77 earnings per share. ITT’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that ITT Inc will post 3.6 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. JPMorgan Chase & Co. raised its holdings in shares of ITT by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 1,172,084 shares of the conglomerate’s stock worth $71,802,000 after acquiring an additional 186,281 shares during the last quarter. Bank of New York Mellon Corp grew its position in ITT by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 1,124,471 shares of the conglomerate’s stock valued at $68,886,000 after acquiring an additional 43,167 shares during the period. Legal & General Group Plc grew its position in ITT by 1.0% during the third quarter. Legal & General Group Plc now owns 117,312 shares of the conglomerate’s stock valued at $7,187,000 after acquiring an additional 1,202 shares during the period. Vanguard Group Inc grew its position in ITT by 1.5% during the third quarter. Vanguard Group Inc now owns 8,447,321 shares of the conglomerate’s stock valued at $517,482,000 after acquiring an additional 125,376 shares during the period. Finally, Retirement Systems of Alabama grew its position in ITT by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 113,579 shares of the conglomerate’s stock valued at $5,482,000 after acquiring an additional 372 shares during the period. 89.83% of the stock is owned by institutional investors.
A number of analysts recently weighed in on ITT shares. Oppenheimer set a $68.00 price target on ITT and gave the company a “buy” rating in a research note on Wednesday, March 27th. UBS Group upgraded ITT from a “sell” rating to a “neutral” rating and lifted their price target for the company from $48.00 to $60.00 in a research note on Thursday, February 28th. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus lifted their price target on ITT from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $66.25.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
Read More: Overbought
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.