ITT (NYSE:ITT) Price Target Raised to $180.00

ITT (NYSE:ITT) had its target price upped by Stifel Nicolaus from $171.00 to $180.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

A number of other equities research analysts have also weighed in on ITT. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. KeyCorp increased their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday, December 7th. Finally, Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Down 1.0 %

NYSE:ITT opened at $150.68 on Wednesday. ITT has a 12-month low of $113.70 and a 12-month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock’s 50 day simple moving average is $151.18 and its 200-day simple moving average is $140.52. The firm has a market cap of $12.28 billion, a P/E ratio of 25.71, a PEG ratio of 1.99 and a beta of 1.40.

ITT (NYSE:ITT) last announced its quarterly earnings data 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. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the company posted $1.37 EPS. ITT’s revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

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 given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s payout ratio is currently 21.67%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in ITT during the 3rd quarter valued at $26,000. Resources Management Corp CT ADV purchased a new stake in shares of ITT in the third quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the last quarter. Headlands Technologies LLC purchased a new stake in ITT during the 2nd quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. acquired a new position in ITT in the 2nd quarter valued at about $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.