Stifel Nicolaus Raises ITT (NYSE:ITT) Price Target to $202.00

Key Points

• Stifel Nicolaus has increased its price target for ITT from $197.00 to $202.00, indicating a potential upside of 23.35% from the current stock price, while maintaining a "buy" rating.
• The company recently reported quarterly earnings of $1.64 per share, exceeding analysts' expectations, with revenue of $972.40 million, reflecting a year-over-year increase of 7.3%.
• Institutional investors own 91.59% of ITT, with several firms significantly increasing their stakes in the company in recent quarters.

ITT (NYSE:ITT - Free Report) had its price objective upped by Stifel Nicolaus from $197.00 to $202.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the conglomerate's stock.

Several other equities research analysts have also commented on ITT. Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. KeyCorp upped their target price on shares of ITT from $180.00 to $192.00 and gave the company an "overweight" rating in a report on Friday. Bank of America upped 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. The Goldman Sachs Group upped their target price on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Citigroup restated a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a report on Monday, July 14th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.22.

ITT Price Performance

Shares of NYSE:ITT traded down $1.35 on Friday, reaching $165.60. 110,990 shares of the company were exchanged, compared to its average volume of 520,540. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. ITT has a 1-year low of $105.64 and a 1-year high of $170.16. The firm has a market cap of $12.92 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. The company has a 50-day moving average of $156.16 and a 200-day moving average of $145.16.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping the consensus estimate of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The business had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same period in the previous year, the firm earned $1.49 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts forecast that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

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

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently bought and sold shares of ITT. Quarry LP grew its position in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in ITT in the fourth quarter valued at approximately $59,000. Versant Capital Management Inc grew its position in ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock valued at $70,000 after acquiring an additional 527 shares in the last quarter. AdvisorNet Financial Inc grew its position in ITT by 26.2% in the second quarter. AdvisorNet Financial Inc now owns 487 shares of the conglomerate's stock valued at $76,000 after acquiring an additional 101 shares in the last quarter. Finally, Assetmark Inc. grew its position in ITT by 31.7% in the second quarter. Assetmark Inc. now owns 503 shares of the conglomerate's stock valued at $79,000 after acquiring an additional 121 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

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.