ITT Inc. (NYSE:ITT) Stock Has Average Target Price of $258.78 According to Analysts

Key Points

• Analyst sentiment is broadly positive: ITT has a “Moderate Buy” consensus from nine analysts—eight buy ratings and one hold—with an average 12-month price target of $258.78.
• Quarterly results beat expectations: ITT reported EPS of $2.26 versus estimates of $2.08 and revenue of $1.44 billion versus $1.42 billion; revenue increased 44.2% year over year.
• ITT announced a quarterly dividend of $0.386 per share, equivalent to $1.54 annually and a 0.7% yield.

ITT Inc. (NYSE:ITT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $258.78.

Several equities analysts recently weighed in on ITT shares. Weiss Ratings upgraded shares of ITT from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday. Citigroup lowered their target price on shares of ITT from $267.00 to $251.00 and set a "buy" rating for the company in a report on Friday, November 6th. BMO Capital Markets reiterated an "outperform" rating and set a $273.00 target price on shares of ITT in a research report on Friday, August 7th. Stifel Nicolaus increased their price target on ITT from $256.00 to $259.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wolfe Research started coverage on ITT in a research report on Tuesday, September 15th. They issued an "outperform" rating and a $272.00 price target on the stock.

ITT Price Performance

Shares of ITT stock opened at $215.94 on Wednesday. The stock has a 50-day moving average price of $201.76 and a 200 day moving average price of $199.67. The company has a quick ratio of 0.85, a current ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a market cap of $19.26 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 1.55 and a beta of 1.25. ITT has a 12 month low of $166.96 and a 12 month high of $230.32.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.18. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. ITT had a net margin of 8.07% and a return on equity of 15.47%. The company's revenue was up 44.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. Research analysts expect that ITT will post 8.60 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Friday, December 4th will be issued a $0.3860 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, December 4th. ITT's dividend payout ratio is currently 31.69%.

Insiders Place Their Bets

In related news, CEO Luca Savi bought 5,019 shares of ITT stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $199.56 per share, for a total transaction of $1,001,591.64. Following the completion of the acquisition, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. This represents a 1.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company's stock.

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently modified their holdings of ITT. BlackRock Inc. bought a new position in ITT during the 2nd quarter worth approximately $1,715,593,000. Findlay Park Partners LLP bought a new stake in ITT in the second quarter valued at approximately $276,395,000. Bank of America Corp DE increased its stake in ITT by 20.4% in the first quarter. Bank of America Corp DE now owns 902,638 shares of the conglomerate's stock valued at $171,980,000 after purchasing an additional 152,635 shares in the last quarter. Wellington Management Group LLP raised its holdings in ITT by 16.5% in the second quarter. Wellington Management Group LLP now owns 825,147 shares of the conglomerate's stock worth $163,181,000 after purchasing an additional 117,155 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in ITT in the second quarter worth $127,872,000. 91.59% of the stock is owned by institutional investors.

ITT Company Profile

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.

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