UBS Group Issues Positive Forecast for ITT (NYSE:ITT) Stock Price

Key Points

• UBS Group has raised its price target for ITT from $168.00 to $200.00, suggesting a potential upside of 19.30% from the stock's previous close, while maintaining a "buy" rating.
• Multiple analysts are optimistic about ITT, with a consensus rating of "Moderate Buy" and an average price target of $182.78, demonstrating significant analyst support.
• ITT's stock is currently trading at $167.64, down 1.3%, and has reported strong quarterly earnings with a return on equity of 18.08% and revenue that exceeded expectations.

ITT (NYSE:ITT - Free Report) had its price objective upped by UBS Group from $168.00 to $200.00 in a research report report published on Tuesday morning, Marketbeat reports. UBS Group currently has a buy rating on the conglomerate's stock.

Several other analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup reiterated a "buy" rating and issued a $186.00 target price (up previously from $159.00) on shares of ITT in a report on Monday, July 14th. Bank of America lifted their target price on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. DA Davidson set a $190.00 target price on shares of ITT and gave the company a "buy" rating in a report on Monday, August 4th. Finally, Stifel Nicolaus lifted their target price on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.78.

ITT Trading Down 0.7%

Shares of NYSE ITT traded down $1.16 during midday trading on Tuesday, reaching $170.74. 254,201 shares of the stock were exchanged, compared to its average volume of 274,641. The company has a 50 day simple moving average of $164.07 and a 200 day simple moving average of $148.46. The stock has a market capitalization of $13.32 billion, a P/E ratio of 26.85, a PEG ratio of 2.12 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT has a twelve month low of $105.64 and a twelve month high of $174.73.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The business had revenue of $972.40 million during the quarter, compared to the consensus estimate of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts expect that ITT will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.351 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT's payout ratio is presently 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction on Thursday, August 7th. The shares were 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 approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Gravity Companies Inc. purchased a new stake in ITT in the second quarter valued at $27,000. Atlantic Union Bankshares Corp purchased a new stake in ITT in the second quarter valued at $34,000. MTM Investment Management LLC purchased a new stake in shares of ITT in the second quarter valued at about $39,000. Clearstead Trust LLC raised its holdings in shares of ITT by 40.0% in the second quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate's stock valued at $55,000 after buying an additional 100 shares during the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of ITT by 37.2% in the second quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate's stock valued at $71,000 after buying an additional 123 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.