ITT (NYSE:ITT) Hits New 1-Year Low – Here’s What Happened

ITT Inc. (NYSE:ITT)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $120.98 and last traded at $122.22, with a volume of 202251 shares changing hands. The stock had previously closed at $133.44.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ITT. UBS Group boosted their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus cut their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

ITT Price Performance

The stock’s 50 day moving average is $141.34 and its two-hundred day moving average is $145.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The stock has a market capitalization of $9.73 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, equities analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.18%. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is 22.22%.

Hedge Funds Weigh In On ITT

A number of institutional investors have recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in shares of ITT during the 4th quarter valued at approximately $26,000. Resources Management Corp CT ADV purchased a new stake in ITT in the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT during the 4th quarter worth $30,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT during the 4th quarter worth about $34,000. Finally, Quarry LP raised its holdings in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after buying an additional 125 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.