ITT Inc. (NYSE:ITT) Receives Consensus Rating of “Buy” from Analysts

ITT Inc. (NYSE:ITT) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $157.78.

Several research firms recently commented on ITT. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird reduced their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus increased their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. KeyCorp increased their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group increased their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th.

ITT Stock Up 0.7 %

Shares of ITT stock opened at $152.67 on Friday. ITT has a 12 month low of $107.01 and a 12 month high of $155.52. The stock has a market cap of $12.44 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.99 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $146.09 and a two-hundred day simple moving average of $137.78.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, research analysts expect that ITT will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.84%. ITT’s dividend payout ratio (DPR) is presently 21.84%.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its stake in ITT by 603.0% during the 1st quarter. Vident Advisory LLC now owns 34,072 shares of the conglomerate’s stock worth $4,635,000 after purchasing an additional 29,225 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of ITT by 19.5% during the 1st quarter. Russell Investments Group Ltd. now owns 54,785 shares of the conglomerate’s stock valued at $7,452,000 after acquiring an additional 8,956 shares during the last quarter. Algert Global LLC acquired a new position in shares of ITT during the 2nd quarter valued at about $1,158,000. Harbor Capital Advisors Inc. boosted its position in shares of ITT by 242.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock valued at $2,895,000 after acquiring an additional 15,866 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of ITT during the 1st quarter valued at about $1,388,000. 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.