ITT (NYSE:ITT) Hits New 52-Week High at $144.44

ITT Inc. (NYSE:ITT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $144.44 and last traded at $144.10, with a volume of 381739 shares changing hands. The stock had previously closed at $140.82.

Wall Street Analysts Forecast Growth

ITT has been the topic of several research reports. TD Cowen increased their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. KeyCorp raised their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. UBS Group upped their price objective on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Citigroup raised their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $144.88.

ITT Trading Up 0.5 %

The business’s 50 day moving average price is $132.40 and its two-hundred day moving average price is $129.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.41.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts forecast that ITT Inc. will post 5.85 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, June 3rd. ITT’s payout ratio is currently 25.10%.

Institutional Investors Weigh In On ITT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Eagle Bluffs Wealth Management LLC boosted its position in shares of ITT by 0.4% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after purchasing an additional 82 shares during the period. Signaturefd LLC raised its holdings in shares of ITT by 8.2% during the fourth quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 87 shares during the period. State of Michigan Retirement System lifted its position in shares of ITT by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 19,729 shares of the conglomerate’s stock valued at $2,354,000 after acquiring an additional 100 shares in the last quarter. Round Rock Advisors LLC boosted its stake in ITT by 0.5% in the 4th quarter. Round Rock Advisors LLC now owns 20,183 shares of the conglomerate’s stock worth $2,408,000 after purchasing an additional 104 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in ITT by 4.7% during the 1st quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock worth $314,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.