Brokerages Set ITT Inc. (NYSE:ITT) Price Target at $165.13

Shares of ITT Inc. (NYSE:ITT) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $166.75.

Several brokerages have recently issued reports on ITT. Stifel Nicolaus lifted their price target on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen boosted their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday. They issued a “peer perform” rating for the company. Finally, StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a report on Saturday, December 7th.

Institutional Trading of ITT

Several hedge funds and other institutional investors have recently bought and sold shares of ITT. M&T Bank Corp grew its stake 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 buying an additional 69 shares during the last quarter. Eagle Bluffs Wealth Management LLC increased 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 valued at $2,457,000 after purchasing an additional 82 shares in the last quarter. CIBC Asset Management Inc raised 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 valued at $360,000 after purchasing an additional 87 shares during the last quarter. Round Rock Advisors LLC boosted its stake in 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 purchasing an additional 90 shares in the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after purchasing an additional 93 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Price Performance

NYSE ITT opened at $150.68 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a market capitalization of $12.28 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. The company has a 50 day simple moving average of $151.18 and a 200-day simple moving average of $140.52. ITT has a 52-week low of $113.70 and a 52-week high of $161.13.

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

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is currently 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.