( ) saw a significant increase in short-term interest in May. On May 15th there were 936,900 shorted shares. This is an increase of 7.0% compared to the total of 875 400 shares on April 30th. Around 1.1% of the stock is shorted. The days-tocover ratio, based on a trading volume average of 444 500 shares, is currently 2.1 days.
Insider Dealings at ITT
SVP Ryan F. Flynn, who is also a director, sold 2,197 of the company's shares in a deal on Friday, 10th March. The shares were purchased at an average of $87.22, resulting in a value of $191.622.34. After the sale was completed, the senior vice-president now owns 16,547 company shares, worth approximately $1,443,229.34. Recently, several institutional investors bought and sold the company's shares. Vanguard Group Inc. increased their stake in ITT in the third quarter by 0.3%. Vanguard Group Inc. owns 7,763,977 of the conglomerate’s stock, valued at $507,298,000. This is after buying an additional 20,326 in the last quarter. BlackRock Inc. increased its holdings in ITT in the first quarter by 1.0%. BlackRock Inc. owns now 7,156,066 of the conglomerate stock, worth $617.569,000, after buying an additional 68.487 shares. JPMorgan Chase & Co. grew its holdings of ITT shares by 2.6% during the fourth quarter. JPMorgan Chase & Co. owns 6,097.934 shares worth $494.543,000, after purchasing 152.821 additional shares during the last quarter. State Street Corp increased its stake in ITT during the first quarter by 1.3%. State Street Corp owns now 2,291,488 of the conglomerate stock valued at $198.426,000, after purchasing 29,808 additional shares during the period. Alliancebernstein L.P. increased its holdings of ITT by 6.8% during the third quarter. Alliancebernstein L.P. owns now 2,227.574 shares worth $145.550,000 of the stock owned by the conglomerate after buying an additional 141.083 shares during the last quarter. Institutional investors and hedge fund own 90.16%.
ITT Stock Performance
On Wednesday, the stock fell $2.54 to reach $76.21. The stock of the company traded 462,138 shares compared to an average of 461,881. ITT's 12-month low is $63.77, and its 12-month high is $95.18. The company has a simple moving-average of $82.32 for the past fifty days and an average simple moving-average of $84.69 for the last two hundred days. The company has a $6.28 billion market cap, a PE of 16.18 and a PEG of 1.30. It also has a beta of 1.41.
The last time ) released its quarterly results was on Thursday, 4th May. Conglomerate reported $1.17 per share for the quarter. This was $0.07 higher than analysts' expectations of $1.10 per share. The company reported revenue of $797.90 for the quarter compared with analysts' expectations of 777.24 million. ITT's return on equity was 17.85%, and its net margin was 12.82 %. Revenue was up 9.9% from the same quarter of last year. In the same quarter last year, the company earned $0.97 per share. Research analysts expect ITT to post 4.85 earnings a share for this fiscal year.
ITT Dividend Announcement
Recently, the company announced a quarterly distribution that will be paid out on Monday, 3rd July. Dividends will be paid to shareholders who were in the records on Friday, June 9. On an annualized base, this dividend represents $1.16 and has a yield of 1.52%. This dividend will be paid on Thursday, 8th June. ITT's current dividend payout ratio stands at 24.63%.
Analyst Upgrades and downgrades
ITT was the subject of several research analyst reports. KeyCorp raised their price target for shares of ITT to $100.00 in a report published on Friday, 10th February. They also gave the stock a 'overweight rating'. Robert W. Baird raised their price target for shares of ITT in a Friday, May 5th report from $100.00 up to $101.00. Citigroup raised their price target on shares of ITT to $101.00 from $94.00 in a report published on Monday, February 13. The company was also given a "buy" rating. In a report published on Thursday, 18th May, ITT shares were covered. The stock was given a rating of'strong-buy.' Six investment analysts have given the stock a buy or hold rating while one analyst has given the stock a strong-buy rating. MarketBeat data shows that ITT has a consensus rating 'Buy,' with a consensus target price of $96.38.
What Is ITT?
ITT, Inc is a manufacturer and seller of engineered components, customized technology solutions, and other products for the transportation, energy, and industrial markets. It operates in four segments: Motion Technologies (Motion Technologies), Industrial Process (Industrial Process), Connect and Control Technologies and Corporate and Other.
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