ITT Inc. (NYSE:ITT) Given Average Recommendation of “Moderate Buy” by Brokerages

ITT Inc. (NYSE:ITT) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $168.38.

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. TD Cowen lifted their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, KeyCorp upped their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st.

Institutional Trading of ITT

A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in 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 acquiring an additional 69 shares during the period. Oppenheimer Asset Management Inc. boosted its position in ITT by 0.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 11,486 shares of the conglomerate’s stock worth $1,641,000 after purchasing an additional 81 shares in the last quarter. CIBC Asset Management Inc boosted its position in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ITT by 13.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate’s stock worth $107,000 after purchasing an additional 87 shares during the period. Finally, Round Rock Advisors LLC increased its holdings in shares of ITT by 0.4% during the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after purchasing an additional 90 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

ITT stock opened at $141.85 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The firm has a 50-day moving average of $146.34 and a two-hundred day moving average of $145.72. ITT has a 1 year low of $121.01 and a 1 year high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, research analysts forecast that ITT will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 0.99%. ITT’s dividend payout ratio (DPR) is 20.32%.

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.