Analysts Set ITT Inc. (NYSE:ITT) Price Target at $157.78

Shares of ITT Inc. (NYSE:ITT) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $161.88.

ITT has been the subject of several research reports. TD Cowen upped 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. Stifel Nicolaus upped their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. KeyCorp increased their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th.

ITT Price Performance

Shares of NYSE ITT opened at $158.48 on Friday. The stock’s 50-day simple moving average is $148.28 and its two-hundred day simple moving average is $138.68. ITT has a twelve month low of $107.01 and a twelve month high of $158.56. The firm has a market capitalization of $12.92 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.98 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share 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 business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the firm posted $1.37 earnings per share. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date is Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.81%. ITT’s dividend payout ratio is currently 21.67%.

Institutional Investors Weigh In On ITT

A number of large investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its stake in shares of ITT by 11.7% during 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 acquiring an additional 351,206 shares during the last quarter. State Street Corp grew its position in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ITT by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after acquiring an additional 50,329 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after acquiring an additional 3,370 shares during the period. 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.