ITT Sees Unusually Large Options Volume (NYSE:ITT)
ITT Inc (NYSE:ITT) saw unusually large options trading on Monday. Stock traders bought 1,172 put options on the company. This is an increase of approximately 1,760% compared to the average volume of 63 put options.
In other news, CFO Thomas M. Scalera sold 64,135 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.57, for a total transaction of $3,948,791.95. Following the sale, the chief financial officer now owns 73,701 shares of the company’s stock, valued at $4,537,770.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Farrokh Batliwala sold 8,950 shares of ITT stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.38, for a total value of $549,351.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Several large investors have recently bought and sold shares of the business. LPL Financial LLC raised its position in shares of ITT by 8.4% during the fourth quarter. LPL Financial LLC now owns 5,207 shares of the conglomerate’s stock worth $251,000 after purchasing an additional 404 shares during the period. Advisor Group Inc. raised its position in shares of ITT by 10.0% during the fourth quarter. Advisor Group Inc. now owns 3,065 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 278 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ITT by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,691,522 shares of the conglomerate’s stock worth $81,647,000 after purchasing an additional 138,213 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of ITT by 10.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 91,298 shares of the conglomerate’s stock worth $4,408,000 after purchasing an additional 8,712 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of ITT by 5.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 22,245 shares of the conglomerate’s stock worth $1,074,000 after purchasing an additional 1,164 shares during the period. 89.70% of the stock is currently owned by hedge funds and other institutional investors.
ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, May 3rd. The conglomerate reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.07. The firm had revenue of $695.50 million for the quarter, compared to analyst estimates of $682.49 million. ITT had a return on equity of 16.69% and a net margin of 11.04%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 EPS. Sell-side analysts predict that ITT will post 3.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were given a dividend of $0.147 per share. This represents a $0.59 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, June 7th. ITT’s dividend payout ratio (DPR) is 18.27%.
A number of equities research analysts recently issued reports on ITT shares. ValuEngine raised ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Oppenheimer set a $312.00 target price on UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. Stifel Nicolaus raised QUALCOMM from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $100.00 in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 12th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $67.25.
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.
Featured Article: Portfolio Manager
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.