ITT (NYSE:ITT) Price Target Raised to $167.00

ITT (NYSE:ITT) had its price target raised by Stifel Nicolaus from $157.00 to $167.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Other analysts have also issued reports about the company. TD Cowen boosted their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. KeyCorp boosted their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $155.25.

ITT Price Performance

Shares of ITT opened at $149.28 on Wednesday. The stock has a 50 day simple moving average of $141.09 and a 200 day simple moving average of $135.29. ITT has a 52-week low of $91.94 and a 52-week high of $153.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The firm has a market capitalization of $12.29 billion, a PE ratio of 29.27, a P/E/G ratio of 2.01 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.319 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. ITT’s dividend payout ratio is 24.90%.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mawer Investment Management Ltd. acquired a new position in ITT during the second quarter worth $49,043,000. Select Equity Group L.P. grew its position in shares of ITT by 11.7% in 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 acquiring an additional 351,206 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares during the last quarter. Millennium Management LLC raised its holdings in shares of ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the period. Finally, AQR Capital Management LLC lifted its stake in ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

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.