KeyCorp Increases ITT (NYSE:ITT) Price Target to $164.00

ITT (NYSE:ITT) had its price target increased by equities researchers at KeyCorp from $155.00 to $164.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the conglomerate’s stock. KeyCorp’s target price suggests a potential upside of 8.43% from the company’s previous close.

ITT has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen upped their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $154.00.

ITT Stock Down 1.5 %

Shares of NYSE ITT opened at $151.25 on Monday. The company has a market capitalization of $12.45 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40. ITT has a 52-week low of $91.94 and a 52-week high of $153.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The company’s 50 day moving average price is $139.99 and its 200-day moving average price is $134.97.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million for the quarter, compared to the consensus estimate of $916.38 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that ITT will post 5.84 earnings per share for the current year.

Hedge Funds Weigh In On ITT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SageView Advisory Group LLC purchased a new stake in ITT in the fourth quarter valued at approximately $247,000. Vanguard Group Inc. boosted its holdings in ITT by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after acquiring an additional 65,173 shares in the last quarter. Quadrature Capital Ltd purchased a new position in ITT during the fourth quarter valued at $394,000. HighPoint Advisor Group LLC purchased a new position in ITT during the fourth quarter valued at $622,000. Finally, Kapitalo Investimentos Ltda purchased a new position in ITT during the fourth quarter valued at $100,000. Institutional investors own 91.59% of the company’s stock.

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.