ITT Inc. (NYSE:ITT) Receives Average Recommendation of “Moderate Buy” from Brokerages

ITT Inc. (NYSE:ITT) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $166.75.

Several research firms have commented on ITT. The Goldman Sachs Group raised their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research assumed coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Citigroup upped their price objective on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Finally, Stifel Nicolaus increased their price objective on shares of ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

ITT Trading Up 0.7 %

Shares of ITT opened at $142.79 on Friday. The company’s fifty day simple moving average is $149.82 and its 200-day simple moving average is $142.13. The company has a market cap of $11.64 billion, a P/E ratio of 24.37, a P/E/G ratio of 1.95 and a beta of 1.40. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT has a twelve month low of $113.76 and a twelve month high of $161.13.

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

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, November 29th. ITT’s payout ratio is currently 21.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in shares of ITT during the second quarter valued at $1,158,000. Eagle Asset Management Inc. acquired a new stake in ITT during the 3rd quarter worth about $67,503,000. AQR Capital Management LLC grew its stake in ITT by 115.6% during 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. Allspring Global Investments Holdings LLC increased its holdings in shares of ITT by 46.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock valued at $14,263,000 after purchasing an additional 30,320 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of ITT by 16,832.5% during the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after purchasing an additional 13,971 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.