ITT (NYSE:ITT) Hits New 1-Year High - What's Next?

ITT Inc. (NYSE:ITT - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $161.36 and last traded at $161.03, with a volume of 83803 shares traded. The stock had previously closed at $160.17.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ITT shares. Citigroup dropped their price target on shares of ITT from $181.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group lifted their target price on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Stifel Nicolaus lifted their target price on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. KeyCorp lifted their target price 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. Finally, Wall Street Zen upgraded shares of ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ITT currently has a consensus rating of "Moderate Buy" and an average price target of $165.50.

ITT Price Performance

The stock's 50-day moving average is $149.61 and its two-hundred day moving average is $142.67. The stock has a market cap of $12.70 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.09 and a beta of 1.35.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. ITT's revenue for the quarter was up .3% on a year-over-year basis. On average, analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a dividend of $0.351 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.87%. ITT's dividend payout ratio (DPR) is currently 22.26%.

Hedge Funds Weigh In On ITT

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. increased its stake in ITT by 13.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after buying an additional 87 shares during the period. Stephens Inc. AR increased its stake in ITT by 4.8% in the 1st quarter. Stephens Inc. AR now owns 1,970 shares of the conglomerate's stock worth $254,000 after buying an additional 90 shares during the period. Prudent Man Advisors LLC increased its stake in ITT by 2.3% in the 1st quarter. Prudent Man Advisors LLC now owns 4,280 shares of the conglomerate's stock worth $553,000 after buying an additional 98 shares during the period. Oregon Public Employees Retirement Fund increased its stake in ITT by 0.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,643 shares of the conglomerate's stock worth $2,150,000 after buying an additional 100 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate's stock worth $183,000 after buying an additional 116 shares during the period. 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.