Brokerages Set ITT Inc. (NYSE:ITT) PT at $155.25

ITT Inc. (NYSE:ITT) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $155.25.

ITT has been the topic of several recent analyst reports. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their price target on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus upped their price target 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. Finally, The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th.

ITT Stock Down 0.8 %

ITT stock opened at $143.39 on Tuesday. The firm has a market cap of $11.80 billion, a PE ratio of 28.12, a P/E/G ratio of 2.01 and a beta of 1.40. ITT has a 12 month low of $91.94 and a 12 month high of $153.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $141.99 and a 200 day simple moving average of $135.67.

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. The business had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. Equities research analysts forecast that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Tuesday, September 3rd. ITT’s dividend payout ratio (DPR) is currently 24.90%.

Hedge Funds Weigh In On ITT

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its position in ITT by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,546 shares of the conglomerate’s stock worth $1,427,000 after purchasing an additional 640 shares during the last quarter. Boston Trust Walden Corp acquired a new position in ITT in the third quarter worth approximately $209,000. Ballentine Partners LLC acquired a new position in ITT in the third quarter worth approximately $218,000. Tectonic Advisors LLC raised its position in ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after acquiring an additional 93 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in ITT by 9.1% in the third quarter. Assenagon Asset Management S.A. now owns 16,400 shares of the conglomerate’s stock valued at $2,452,000 after acquiring an additional 1,372 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.