ITT (NYSE:ITT - Free Report) had its price objective increased by Citigroup from $159.00 to $186.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the conglomerate's stock.
Several other research firms have also issued reports on ITT. Bank of America raised their target price on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. The Goldman Sachs Group raised their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. KeyCorp raised their target price on shares of ITT from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Finally, Stifel Nicolaus raised their target price on shares of ITT from $161.00 to $171.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ITT has a consensus rating of "Moderate Buy" and a consensus target price of $170.00.
View Our Latest Report on ITT
ITT Stock Performance
Shares of NYSE:ITT traded up $0.25 on Monday, reaching $158.11. The company's stock had a trading volume of 284,945 shares, compared to its average volume of 458,448. ITT has a 52-week low of $105.64 and a 52-week high of $161.79. The company has a market cap of $12.44 billion, a P/E ratio of 25.14, a PEG ratio of 2.00 and a beta of 1.35. The company has a 50-day simple moving average of $152.08 and a 200 day simple moving average of $143.25.
ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to analysts' expectations of $901.22 million. ITT had a net margin of 14.19% and a return on equity of 17.75%. The business's revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. On average, equities research analysts forecast that ITT will post 6.51 EPS for the current fiscal year.
ITT Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a dividend of $0.351 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. ITT's payout ratio is 22.26%.
Institutional Investors Weigh In On ITT
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Merit Financial Group LLC bought a new stake in shares of ITT in the 1st quarter valued at about $273,000. Intech Investment Management LLC raised its holdings in shares of ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock valued at $2,008,000 after purchasing an additional 9,633 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ITT by 19.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after purchasing an additional 2,917 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of ITT by 10.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of ITT by 22.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,049 shares of the conglomerate's stock valued at $1,293,000 after purchasing an additional 1,659 shares in the last quarter. Institutional investors own 91.59% of the company's stock.
About ITT
(
Get Free Report)
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.
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