ITT (NYSE:ITT) Given New $150.00 Price Target at Citigroup

ITT (NYSE:ITT) had its price objective lowered by Citigroup from $181.00 to $150.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of a number of other research reports. UBS Group raised 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. KeyCorp lowered their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their target price on shares of ITT from $179.00 to $148.00 and set a “buy” rating on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average target price of $158.57.

ITT Stock Down 0.2 %

ITT stock opened at $126.68 on Monday. The stock has a market capitalization of $10.26 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.89 and a beta of 1.36. ITT has a 52 week low of $105.64 and a 52 week high of $161.13. The firm has a 50-day simple moving average of $134.61 and a 200-day simple moving average of $143.97. 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 posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities analysts forecast that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 1.11%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, March 6th. ITT’s payout ratio is presently 22.22%.

Institutional Trading of ITT

Several institutional investors have recently made changes to their positions in ITT. Rialto Wealth Management LLC purchased a new position in ITT in the fourth quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of ITT in the 4th quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in shares of ITT during the 4th quarter worth $34,000. Quarry LP increased its position in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 125 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in ITT by 79.1% in the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after buying an additional 182 shares during the period. Hedge funds and other 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.