ITT Inc. (NYSE:ITT) Receives $168.38 Average PT from Analysts

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

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. UBS Group raised their target price on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus lowered their price target on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, January 24th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup lowered their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th.

Institutional Investors Weigh In On ITT

Several large investors have recently made changes to their positions in the stock. Select Equity Group L.P. lifted its position in ITT by 7.7% in the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock valued at $652,237,000 after acquiring an additional 326,947 shares in the last quarter. State Street Corp raised its stake in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares during the period. Invesco Ltd. lifted its holdings in shares of ITT by 12.2% in the fourth quarter. Invesco Ltd. now owns 1,560,381 shares of the conglomerate’s stock valued at $222,947,000 after purchasing an additional 169,054 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of ITT by 14.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,366,576 shares of the conglomerate’s stock worth $195,256,000 after buying an additional 169,944 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $141.06 on Monday. ITT has a 1 year low of $121.01 and a 1 year high of $161.13. The company’s 50-day moving average is $145.87 and its two-hundred day moving average is $146.00. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $11.48 billion, a PE ratio of 22.39, a PEG ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Equities analysts anticipate that ITT will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.351 per share. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, March 6th. ITT’s dividend payout ratio (DPR) is 22.22%.

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.