ITT (NYSE:ITT) Price Target Raised to $170.00

ITT (NYSE:ITT) had its target price lifted by KeyCorp from $164.00 to $170.00 in a report released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the conglomerate’s stock.

Several other research analysts also recently commented on ITT. The Goldman Sachs Group increased their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Wolfe Research began coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, TD Cowen upped their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $167.25.

ITT Trading Down 0.2 %

Shares of ITT stock opened at $153.10 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a fifty day simple moving average of $149.40 and a two-hundred day simple moving average of $143.80. The firm has a market capitalization of $12.48 billion, a PE ratio of 26.13, a PEG ratio of 1.84 and a beta of 1.41. ITT has a 52-week low of $118.58 and a 52-week 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 the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the company earned $1.37 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, November 29th. ITT’s dividend payout ratio is currently 21.84%.

Institutional Investors Weigh In On ITT

A number of institutional investors and hedge funds have recently made changes to their positions in ITT. Capital Performance Advisors LLP acquired a new stake in ITT in the 3rd quarter valued at about $26,000. Resources Management Corp CT ADV acquired a new stake in ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC acquired a new stake in ITT in the fourth quarter valued at approximately $30,000. UMB Bank n.a. lifted its stake in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 103 shares in the last quarter. 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.