ITT (NYSE:ITT) Price Target Lowered to $179.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its price target trimmed by Stifel Nicolaus from $180.00 to $179.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Several other research analysts have also commented on the company. TD Cowen raised their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Citigroup reduced their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT Stock Down 1.2 %

Shares of NYSE:ITT opened at $151.30 on Friday. The stock has a 50-day simple moving average of $149.38 and a 200-day simple moving average of $143.97. The stock has a market capitalization of $12.33 billion, a P/E ratio of 25.82, a PEG ratio of 1.84 and a beta of 1.41. ITT has a 1 year low of $118.58 and a 1 year high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $884.50 million. During the same period in the previous year, the firm earned $1.37 earnings per share. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts forecast that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, November 29th. ITT’s payout ratio is currently 21.84%.

Hedge Funds Weigh In On ITT

Large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in ITT during the third quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT during the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in ITT during the fourth quarter worth $30,000. UMB Bank n.a. boosted its holdings in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. Finally, Quent Capital LLC increased its stake in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

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.