ITT Inc. (NYSE:ITT) Receives $157.78 Average PT from Brokerages

ITT Inc. (NYSE:ITT) has earned an average rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $161.88.

Several brokerages have recently commented on ITT. KeyCorp lifted their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus boosted their price objective on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen upped their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th.

Institutional Trading of ITT

A number of hedge funds and other institutional investors have recently modified their holdings of ITT. M&T Bank Corp increased its holdings in shares of ITT by 1.3% in the third quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock valued at $797,000 after buying an additional 69 shares in the last quarter. Eagle Bluffs Wealth Management LLC raised its holdings in ITT by 0.4% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock worth $2,457,000 after buying an additional 82 shares during the period. CIBC Asset Management Inc lifted its stake in ITT by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock valued at $360,000 after buying an additional 87 shares in the last quarter. Round Rock Advisors LLC boosted its holdings in shares of ITT by 0.4% in the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after buying an additional 90 shares during the period. Finally, Tectonic Advisors LLC increased its position in shares of ITT by 3.3% in the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Up 0.5 %

NYSE ITT opened at $153.43 on Friday. The company’s fifty day simple moving average is $146.54 and its 200-day simple moving average is $138.11. The stock has a market cap of $12.51 billion, a P/E ratio of 26.18, a PEG ratio of 1.98 and a beta of 1.41. ITT has a 52 week low of $107.01 and a 52 week high of $155.52. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 EPS. Equities research analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

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

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.