ITT Inc. (NYSE:ITT) Receives $135.57 Consensus Target Price from Analysts

ITT Inc. (NYSE:ITT) has received a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $135.57.

A number of research analysts have recently weighed in on ITT shares. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Stifel Nicolaus lifted their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. DA Davidson boosted their target price on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. KeyCorp increased their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th.

Institutional Trading of ITT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Suncoast Equity Management grew its holdings in ITT by 5.4% during the 1st quarter. Suncoast Equity Management now owns 9,365 shares of the conglomerate’s stock worth $1,274,000 after acquiring an additional 480 shares in the last quarter. Fortem Financial Group LLC grew its stake in ITT by 12.6% in the first quarter. Fortem Financial Group LLC now owns 10,124 shares of the conglomerate’s stock worth $1,377,000 after purchasing an additional 1,132 shares in the last quarter. Capstone Investment Advisors LLC increased its holdings in ITT by 95.9% in the first quarter. Capstone Investment Advisors LLC now owns 6,773 shares of the conglomerate’s stock valued at $921,000 after buying an additional 3,316 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in ITT by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 27,424 shares of the conglomerate’s stock valued at $3,731,000 after buying an additional 159 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in ITT by 20.3% during the first quarter. BNP Paribas Financial Markets now owns 14,689 shares of the conglomerate’s stock valued at $1,998,000 after buying an additional 2,483 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $124.55 on Tuesday. The stock has a market capitalization of $10.25 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The company has a fifty day moving average of $129.41 and a 200-day moving average of $118.29. ITT has a one year low of $75.82 and a one year high of $138.29.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm had revenue of $829.10 million for the quarter, compared to the consensus estimate of $814.38 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that ITT will post 5.8 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 1.02%. ITT’s dividend payout ratio is presently 25.81%.

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.