The Goldman Sachs Group Raises ITT (NYSE:ITT) Price Target to $177.00

ITT (NYSE:ITT) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $160.00 to $177.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 15.98% from the stock’s previous close.

Several other brokerages also recently commented on ITT. Citigroup dropped their price target on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp boosted their price objective on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. UBS Group boosted their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus boosted their price objective on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus price target of $164.86.

ITT Stock Down 0.5%

ITT opened at $152.61 on Monday. The business has a 50 day moving average price of $134.37 and a 200 day moving average price of $142.87. ITT has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a market cap of $12.01 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 EPS. Research analysts forecast that ITT will post 6.51 EPS for the current year.

Hedge Funds Weigh In On ITT

Institutional investors and hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC acquired a new position in shares of ITT during the fourth quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in ITT in the fourth quarter valued at about $34,000. Quarry LP increased its holdings in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of ITT during the fourth quarter worth about $59,000. 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.