Stifel Nicolaus Cuts ITT (NYSE:ITT) Price Target to $179.00

ITT (NYSE:ITT) had its price target trimmed by Stifel Nicolaus from $180.00 to $179.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

Several other equities research analysts have also recently issued reports on the company. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. TD Cowen lifted their price objective on 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 lowered their target price 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 raised their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group upped their price target 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $167.13.

ITT Price Performance

Shares of ITT stock opened at $151.30 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT has a 52 week low of $118.58 and a 52 week high of $161.13. The stock’s 50-day simple moving average is $149.38 and its 200-day simple moving average is $144.20. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.84 and a beta of 1.41.

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

ITT Dividend Announcement

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

Institutional Investors Weigh In On ITT

Several institutional investors have recently made changes to their positions in ITT. Eagle Asset Management Inc. bought a new position in ITT during the 3rd quarter valued at about $67,503,000. Select Equity Group L.P. grew its stake in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares during the last quarter. Millennium Management LLC raised its holdings in shares of ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after buying an additional 262,470 shares during the period. AQR Capital Management LLC lifted its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after acquiring an additional 131,708 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of ITT by 160.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock worth $13,813,000 after acquiring an additional 65,826 shares during the last quarter. Institutional investors 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.