ITT (NYSE:ITT) Reaches New 12-Month High – Still a Buy?

ITT Inc. (NYSE:ITT) hit a new 52-week high during trading on Thursday . The company traded as high as $155.61 and last traded at $155.39, with a volume of 71887 shares. The stock had previously closed at $152.20.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ITT shares. The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. KeyCorp lifted their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird decreased their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $161.88.

ITT Trading Up 2.1 %

The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The firm’s 50 day simple moving average is $147.38 and its two-hundred day simple moving average is $138.38. The stock has a market cap of $12.67 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, equities research analysts predict that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.82%. ITT’s payout ratio is presently 21.84%.

Hedge Funds Weigh In On ITT

A number of large investors have recently made changes to their positions in the business. Select Equity Group L.P. boosted its position in ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares during the period. State Street Corp boosted its position in shares of ITT by 1.1% in 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 period. Geode Capital Management LLC boosted its position in shares of 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 shares of ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after acquiring an additional 50,329 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after acquiring an additional 3,370 shares during the period. 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.