ITT Inc. (ITT) Stock Rating Reaffirmed by Cowen and Company

ITT Inc. (NYSE:ITT)‘s stock had its “buy” rating reiterated by research analysts at Cowen and Company in a research report issued on Thursday. They presently have a $50.00 target price on the conglomerate’s stock. Cowen and Company’s price target would suggest a potential upside of 12.54% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Friday, July 28th. ValuEngine cut ITT from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $49.00 price objective on shares of ITT in a report on Wednesday, August 16th. BidaskClub cut ITT from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $46.75.

ITT (NYSE ITT) opened at 44.43 on Thursday. ITT has a 12 month low of $32.46 and a 12 month high of $44.57. The company has a market cap of $3.91 billion, a PE ratio of 19.03 and a beta of 1.46. The company has a 50 day moving average price of $40.49 and a 200-day moving average price of $40.30.

ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm had revenue of $630.90 million for the quarter, compared to analysts’ expectations of $628.65 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that ITT will post $2.46 earnings per share for the current fiscal year.

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In other ITT news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total value of $214,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in ITT by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,014,284 shares of the conglomerate’s stock worth $322,014,000 after acquiring an additional 74,138 shares during the last quarter. BlackRock Inc. increased its stake in ITT by 10,370.9% in the 1st quarter. BlackRock Inc. now owns 7,282,231 shares of the conglomerate’s stock worth $298,717,000 after acquiring an additional 7,212,684 shares during the last quarter. Janus Henderson Group PLC bought a new position in ITT in the 2nd quarter worth about $122,628,000. FMR LLC increased its stake in ITT by 12.7% in the 2nd quarter. FMR LLC now owns 2,844,070 shares of the conglomerate’s stock worth $114,274,000 after acquiring an additional 319,880 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in ITT by 4.8% in the 1st quarter. Janus Capital Management LLC now owns 2,827,936 shares of the conglomerate’s stock worth $116,002,000 after acquiring an additional 130,595 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About ITT

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.

Analyst Recommendations for ITT (NYSE:ITT)

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