ITT (NYSE:ITT) Price Target Raised to $210.00

ITT (NYSE:ITT) had its target price upped by Bank of America from $190.00 to $210.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on ITT from $160.00 to $177.00 and gave the company a “buy” rating in a report on Monday, May 19th. DA Davidson set a $190.00 price target on ITT and gave the company a “buy” rating in a report on Monday, August 4th. Stifel Nicolaus upped their price target on ITT from $197.00 to $202.00 and gave the company a “buy” rating in a report on Friday, August 1st. UBS Group upped their price target on ITT from $168.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, Citigroup reaffirmed a “buy” rating and set a $186.00 price target (up from $159.00) on shares of ITT in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.11.

ITT Trading Up 1.9%

NYSE ITT opened at $182.92 on Tuesday. ITT has a 12 month low of $105.64 and a 12 month high of $183.66. The stock has a market cap of $14.27 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.21 and a beta of 1.39. The stock’s fifty day moving average price is $167.45 and its 200-day moving average price is $150.65. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24.

ITT (NYSE:ITT) last released its earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.02. The firm had revenue of $972.40 million for the quarter, compared to analysts’ expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts forecast that ITT will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT’s dividend payout ratio (DPR) is currently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the completion of the transaction, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ITT

Several institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in ITT by 36.0% during the 2nd quarter. Osaic Holdings Inc. now owns 7,841 shares of the conglomerate’s stock valued at $1,225,000 after buying an additional 2,077 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in ITT by 9.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 16,118 shares of the conglomerate’s stock valued at $2,528,000 after buying an additional 1,326 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in ITT by 2.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 63,414 shares of the conglomerate’s stock valued at $9,945,000 after buying an additional 1,614 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of ITT in the 2nd quarter valued at approximately $372,000. Finally, Nomura Holdings Inc. bought a new stake in shares of ITT in the 2nd quarter valued at approximately $546,000. Hedge funds and other institutional investors 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.