ITT (NYSE:ITT) Hits New 52-Week High - Time to Buy?

Key Points

• ITT Inc. reached a new 52-week high of $185.57, reflecting strong trading volume of 1,235,840 shares and a closing price of $180.53.
• Multiple analysts have upgraded ITT's target prices, with Bank of America raising it to $210, contributing to a consensus rating of "Moderate Buy" and an average target price of $188.11.
• ITT reported $1.64 EPS for the last quarter, exceeding estimates, with year-over-year revenue growth of 7.3% and a dividend of $0.351 per share planned for distribution.

ITT Inc. (NYSE:ITT - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $185.57 and last traded at $180.53, with a volume of 1235840 shares changing hands. The stock had previously closed at $182.88.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ITT shares. Stifel Nicolaus increased their price target on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a report on Friday, August 1st. KeyCorp increased their target price on shares of ITT from $192.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. UBS Group raised their price target on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Bank of America upped their price objective on shares of ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Finally, Citigroup reissued a "buy" rating and set a $186.00 price objective (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $188.11.

ITT Stock Performance

The company has a 50-day moving average of $168.39 and a 200-day moving average of $151.45. The company has a market cap of $14.16 billion, a PE ratio of 28.54, a PEG ratio of 2.23 and a beta of 1.39. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24.

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

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a $0.351 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.40 annualized dividend and a yield of 0.8%. ITT's dividend payout ratio (DPR) is 22.01%.

Insider Activity at ITT

In other news, CEO Luca Savi sold 36,385 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the transaction, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. The trade was a 10.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ITT. Financial Gravity Companies Inc. purchased a new stake in shares of ITT during the 2nd quarter valued at $27,000. Atlantic Union Bankshares Corp bought a new stake in ITT in the second quarter worth about $34,000. MTM Investment Management LLC purchased a new position in ITT in the second quarter valued at about $39,000. Clearstead Trust LLC grew its position in shares of ITT by 40.0% during the 2nd quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate's stock valued at $55,000 after acquiring an additional 100 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of ITT by 3,513.3% during the 1st quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors 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.