ITT Corp (ITT) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 41 from a previous price target of $37 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jun 10, 2016.
On the company’s financial health, ITT Corp reported $0.59 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.59. The company had revenue of $609.10 million for the quarter, compared to analysts expectations of $591.55 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
ITT Corp closed down -0.52 points or -1.43% at $35.85 with 1,77,649 shares getting traded on Thursday. Post opening the session at $36.01, the shares hit an intraday low of $35.64 and an intraday high of $36.31 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 1, 2016, Aris C Chicles (officer ) sold 90,778 shares at $35.61 per share price. According to the SEC, on May 26, 2016, Thomas M Scalera (Executive VP & CFO) sold 7,019 shares at $36.00 per share price. On Mar 11, 2016, Denise L Ramos (CEO and President) sold 152,594 shares at $35.86 per share price, according to the Form-4 filing with the securities and exchange commission.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Companys 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. Motion Technologies manufactures brake components shock absorbers and damping technologies for the automotive truck and trailer public bus and rail transportation markets. Interconnect Solutions manufactures and designs a range of engineered connector solutions that makes it possible to transfer signal and power between electronic devices. Control Technologies manufactures equipment including actuation valves and noise and energy absorption components for the aerospace and defense and industrial markets.