ITT (NYSE:ITT) Price Target Lowered to $181.00 at Citigroup

ITT (NYSE:ITT) had its target price reduced by Citigroup from $183.00 to $181.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Several other equities research analysts have also recently commented on ITT. Stifel Nicolaus lifted their target price on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.50.

ITT Stock Performance

Shares of NYSE:ITT opened at $139.50 on Monday. The business has a fifty day moving average of $149.71 and a 200-day moving average of $142.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT has a twelve month low of $116.59 and a twelve month high of $161.13. The firm has a market cap of $11.37 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.95 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, beating the consensus estimate 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 analysts’ expectations of $884.50 million. During the same quarter last year, the company posted $1.37 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.91%. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. M&T Bank Corp raised its position in shares of ITT by 1.3% during the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after purchasing an additional 69 shares during the period. CIBC Asset Management Inc raised its holdings in ITT by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after buying an additional 87 shares during the period. Round Rock Advisors LLC lifted its stake in ITT by 0.4% in the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after buying an additional 90 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of ITT by 3.3% in the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after buying an additional 93 shares during the period. Finally, AE Wealth Management LLC increased its position in shares of ITT by 5.9% during the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after acquiring an additional 100 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

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.