Seaport Global Upgrades ITT Corp to Buy with Price Target $41.00

Brokerage firm Seaport Global Upgrades its rating on ITT Corp(NYSE:ITT). In a research note issued to the investors, the brokerage major Raises the price-target to $41.00 per share. The shares have been rated Buy. Previously, the analysts had a Accumulate rating on the shares. The rating by Seaport Global was issued on Jun 10, 2016.

In a different note, On May 16, 2016, UBS said it Maintains its rating on ITT Corp. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Sell’ by the firm.

ITT Corp (ITT) made into the market gainers list on Wednesdays trading session with the shares advancing 0.03% or 0.01 points. Due to strong positive momentum, the stock ended at $34.48, which is also near the day’s high of $34.91. The stock began the session at $34.64 and the volume stood at 2,57,408 shares. The 52-week high of the shares is $42.62 and the 52 week low is $29.15. The company has a current market capitalization of $3,107 M and it has 9,01,00,000 shares in outstanding.

ITT Corp(ITT) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $609.10M. Analysts had an estimated revenue of $592.66M. Earnings per share were $0.59. Analysts had estimated an EPS of $0.59.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Aris C Chicles (officer ) sold 90,778 shares at $35.61 per share price.Also, 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 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. 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.

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