ITT (NYSE:ITT) Sets New 1-Year High at $149.65

ITT Inc. (NYSE:ITT)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $149.65 and last traded at $149.31, with a volume of 21771 shares trading hands. The stock had previously closed at $147.70.

Wall Street Analysts Forecast Growth

ITT has been the subject of several research reports. Stifel Nicolaus lifted their price target on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. KeyCorp lifted their target price on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, TD Cowen boosted their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $151.00.

ITT Stock Performance

The stock has a market cap of $12.13 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $136.35 and a 200 day simple moving average of $133.05.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $905.90 million for the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter last year, the business earned $1.33 earnings per share. ITT’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that ITT Inc. will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.319 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio is 25.10%.

Institutional Investors Weigh In On ITT

Large investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in ITT during the 2nd quarter worth approximately $489,000. Point72 Asset Management L.P. lifted its stake in shares of ITT by 160.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock valued at $13,813,000 after acquiring an additional 65,826 shares during the last quarter. Quarry LP boosted its holdings in shares of ITT by 3,376.5% during the 2nd quarter. Quarry LP now owns 591 shares of the conglomerate’s stock valued at $76,000 after acquiring an additional 574 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in ITT by 16.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate’s stock worth $230,000 after acquiring an additional 253 shares during the last quarter. Finally, Creative Planning increased its holdings in ITT by 4.6% in the 2nd quarter. Creative Planning now owns 14,029 shares of the conglomerate’s stock worth $1,812,000 after purchasing an additional 615 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.