ITT (NYSE:ITT) Price Target Raised to $192.00 at KeyCorp

Key Points

• KeyCorp has increased its price target for ITT from $180.00 to $192.00, suggesting a potential upside of 12.94% from its current price and maintaining an "overweight" rating.
• The stock has recently received multiple upgrades from research firms, including a buy rating from Citigroup and an increased target price of $186.00.
• ITT reported a 7.3% year-over-year revenue increase, with earnings per share of $1.64, surpassing analysts’ expectations of $1.62.

ITT (NYSE:ITT - Get Free Report) had its price objective lifted by stock analysts at KeyCorp from $180.00 to $192.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the conglomerate's stock. KeyCorp's price target would indicate a potential upside of 15.63% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Bank of America raised their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Citigroup reiterated a "buy" rating and set a $186.00 target price (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus increased their target price on shares of ITT from $171.00 to $197.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, The Goldman Sachs Group increased their target price on shares of ITT from $160.00 to $177.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, ITT currently has an average rating of "Moderate Buy" and a consensus target price of $179.22.

ITT Stock Down 0.5%

ITT stock traded down $0.89 during trading hours on Friday, hitting $166.05. The company's stock had a trading volume of 281,291 shares, compared to its average volume of 521,414. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $12.95 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. ITT has a 12 month low of $105.64 and a 12 month high of $170.16. The stock has a 50 day moving average price of $156.16 and a two-hundred day moving average price of $145.16.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The firm had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. During the same period in the prior year, the firm earned $1.49 EPS. The business's revenue was up 7.3% on a year-over-year basis. On average, equities research analysts expect that ITT will post 6.51 earnings per share for the current year.

Institutional Trading of ITT

Several institutional investors have recently made changes to their positions in ITT. Quarry LP lifted its holdings in ITT by 101.6% during the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of ITT in the fourth quarter worth about $59,000. AdvisorNet Financial Inc increased its position in shares of ITT by 26.2% in the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock worth $76,000 after purchasing an additional 101 shares during the last quarter. Assetmark Inc. increased its position in shares of ITT by 31.7% in the second quarter. Assetmark Inc. now owns 503 shares of the conglomerate's stock worth $79,000 after purchasing an additional 121 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in ITT by 2,777.8% during the second quarter. Cullen Frost Bankers Inc. now owns 518 shares of the conglomerate's stock valued at $81,000 after acquiring an additional 500 shares during the last quarter. 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.