ITT Inc. (NYSE:ITT) Receives $166.75 Average Price Target from Brokerages

Shares of ITT Inc. (NYSE:ITT) have received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $166.75.

A number of equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Stifel Nicolaus upped their price objective on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup boosted their price target on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th.

Institutional Trading of ITT

Institutional investors have recently made changes to their positions in the stock. Select Equity Group L.P. raised its stake in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares during the last quarter. State Street Corp increased its position in ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after acquiring an additional 26,133 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares during the period. Dimensional Fund Advisors LP boosted its position in ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after purchasing an additional 27,885 shares during the period. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $139.29 on Friday. The company has a fifty day moving average of $149.75 and a 200-day moving average of $142.57. ITT has a 52-week low of $115.96 and a 52-week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market capitalization of $11.35 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter last year, the company earned $1.37 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, November 29th. ITT’s payout ratio is 21.67%.

ITT Company Profile

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.