ITT Inc. (NYSE:ITT) Receives $166.75 Average Target Price from Brokerages

Shares of ITT Inc. (NYSE:ITT) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $166.75.

Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. KeyCorp upped 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. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird cut their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Monday, December 9th.

ITT Price Performance

NYSE ITT opened at $142.78 on Friday. ITT has a one year low of $114.24 and a one year high of $161.13. The stock has a 50-day moving average of $149.77 and a 200 day moving average of $142.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating 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 firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts forecast that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. ITT’s payout ratio is presently 21.67%.

Hedge Funds Weigh In On ITT

Several large investors have recently made changes to their positions in ITT. Capital Performance Advisors LLP purchased a new position in ITT in the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV bought a new stake in shares of ITT during the third quarter valued at approximately $30,000. Headlands Technologies LLC purchased a new position in shares of ITT in the second quarter worth $32,000. UMB Bank n.a. boosted its position in shares of ITT by 315.8% during the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in ITT during the second quarter valued at $36,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.