UBS Group Issues Positive Forecast for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price target upped by UBS Group from $165.00 to $168.00 in a research note released on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the conglomerate’s stock.

A number of other research analysts have also recently issued reports on the stock. Wolfe Research started coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. Stifel Nicolaus reduced their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird decreased their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $168.38.

ITT Stock Performance

ITT opened at $146.07 on Friday. The stock has a 50-day moving average of $147.84 and a 200-day moving average of $144.82. ITT has a 52-week low of $118.58 and a 52-week high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The company has a market cap of $11.91 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities research analysts forecast that ITT will post 6.33 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. ITT’s payout ratio is 20.32%.

Institutional Trading of ITT

Institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Asset Management Inc. acquired a new stake in shares of ITT in the third quarter valued at approximately $67,503,000. Allspring Global Investments Holdings LLC increased its holdings in ITT by 46.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after purchasing an additional 30,320 shares in the last quarter. International Assets Investment Management LLC raised its position in ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after purchasing an additional 13,971 shares during the last quarter. Algert Global LLC boosted its stake in shares of ITT by 101.2% during the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after purchasing an additional 9,070 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its holdings in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after purchasing an additional 20,270 shares during the last quarter. Institutional investors 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.