ITT Inc. (NYSE:ITT) Receives $168.38 Average Price Target from Brokerages

ITT Inc. (NYSE:ITT) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $168.38.

ITT has been the topic of several recent research reports. TD Cowen lifted their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Robert W. Baird dropped their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. KeyCorp boosted their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company.

ITT Trading Up 1.1 %

ITT stock opened at $142.54 on Monday. ITT has a 12 month low of $121.01 and a 12 month high of $161.13. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The business has a 50 day moving average price of $145.96 and a two-hundred day moving average price of $145.81. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities analysts forecast that ITT will post 6.51 EPS for the current year.

ITT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a $0.351 dividend. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. ITT’s dividend payout ratio (DPR) is 22.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in shares of ITT by 3.2% in the third quarter. Raymond James & Associates now owns 69,649 shares of the conglomerate’s stock worth $10,413,000 after acquiring an additional 2,176 shares during the last quarter. Private Advisor Group LLC raised its position in ITT by 74.5% in the 3rd quarter. Private Advisor Group LLC now owns 8,043 shares of the conglomerate’s stock worth $1,202,000 after purchasing an additional 3,435 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in ITT by 16,832.5% during the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after buying an additional 13,971 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in ITT by 9.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 16,400 shares of the conglomerate’s stock valued at $2,452,000 after buying an additional 1,372 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of ITT in the 3rd quarter valued at $218,000. Institutional investors and hedge funds 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.