Analysts Set ITT Inc. (NYSE:ITT) Target Price at $165.50

Shares of ITT Inc. (NYSE:ITT - Get Free Report) have received an average rating of "Moderate Buy" from the nine ratings firms that are covering the company, MarketBeat 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 price objective among analysts that have issued a report on the stock in the last year is $165.50.

Several equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. KeyCorp upped their price target on shares of ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group raised their price objective on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Stifel Nicolaus boosted their target price on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st.

ITT Stock Performance

NYSE ITT traded down $0.98 during trading hours on Wednesday, reaching $149.78. 330,965 shares of the company were exchanged, compared to its average volume of 558,312. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $11.79 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.89 and a beta of 1.36. The business's 50 day simple moving average is $137.48 and its 200-day simple moving average is $142.84. ITT has a 1 year low of $105.64 and a 1 year high of $161.13.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. ITT's revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. On average, equities research analysts expect that ITT will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. ITT's payout ratio is 22.26%.

Institutional Investors Weigh In On ITT

Several hedge funds have recently modified their holdings of ITT. Rialto Wealth Management LLC bought a new position in ITT in the fourth quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new position in shares of ITT in the 4th quarter worth $34,000. Quarry LP lifted its stake in shares of ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its position in ITT by 79.1% during the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

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.