ITT Inc. (NYSE:ITT) Receives Consensus Rating of “Buy” from Analysts

Shares of ITT Inc. (NYSE:ITT) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $165.13.

Several equities analysts have recently weighed in on ITT shares. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Citigroup boosted their price target on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp increased their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Hedge Funds Weigh In On ITT

A number of hedge funds have recently bought and sold shares of ITT. Eagle Asset Management Inc. bought a new position in ITT in the 3rd quarter valued at about $67,503,000. Mawer Investment Management Ltd. acquired a new position in ITT during the second quarter valued at approximately $49,043,000. Select Equity Group L.P. boosted its holdings in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares in the last quarter. Millennium Management LLC increased its stake in shares of ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of ITT by 115.6% in 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. 91.59% of the stock is owned by institutional investors.

ITT Stock Up 0.7 %

Shares of ITT stock opened at $154.21 on Wednesday. ITT has a 1 year low of $111.96 and a 1 year high of $161.13. The business has a 50-day moving average of $150.91 and a two-hundred day moving average of $140.25. The company has a market capitalization of $12.57 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last released its quarterly 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. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. As a group, equities analysts predict that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.83%. ITT’s dividend payout ratio (DPR) is presently 21.67%.

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.