ITT (NYSE:ITT) Price Target Raised to $165.00 at TD Cowen

ITT (NYSE:ITT) had its price objective increased by TD Cowen from $150.00 to $165.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. TD Cowen’s price target suggests a potential upside of 17.41% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group increased their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. KeyCorp upped their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT has an average rating of “Buy” and an average price target of $157.78.

ITT Stock Up 0.3 %

Shares of ITT stock opened at $140.53 on Thursday. The stock has a 50 day moving average of $142.94 and a 200 day moving average of $136.20. The company has a current ratio of 1.58, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The stock has a market cap of $11.45 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.92 and a beta of 1.40. ITT has a twelve month low of $95.53 and a twelve month high of $153.99.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million for 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, sell-side analysts expect that ITT will post 5.82 EPS for the current year.

Hedge Funds Weigh In On ITT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Select Equity Group L.P. increased its holdings in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after purchasing an additional 3,370 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of ITT by 12.5% during the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after buying an additional 80,652 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of ITT by 73.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after buying an additional 288,671 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.