ITT Inc (NYSE:ITT) CFO Thomas M. Scalera Sells 64,135 Shares

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.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 10th will be issued a $0.147 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.00%. ITT’s dividend payout ratio (DPR) is 18.27%.

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.

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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.

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