ITT (NYSE:ITT) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

ITT (NYSE:ITT - Get Free Report) had its price target upped by stock analysts at Stifel Nicolaus from $171.00 to $197.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the conglomerate's stock. Stifel Nicolaus' price objective points to a potential upside of 23.81% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. Bank of America raised their price target on ITT from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wall Street Zen raised ITT from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "buy" rating and set a $186.00 target price (up from $159.00) on shares of ITT in a research report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their target price on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average price target of $173.25.

ITT Stock Performance

Shares of ITT stock opened at $159.12 on Monday. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 2.02 and a beta of 1.35. The stock has a 50 day moving average price of $153.62 and a 200-day moving average price of $143.79. ITT has a one year low of $105.64 and a one year high of $161.79.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITT. Nuveen LLC purchased a new stake in ITT during the 1st quarter valued at about $156,406,000. Norges Bank purchased a new position in shares of ITT during the fourth quarter worth $134,433,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of ITT by 97.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,835,894 shares of the conglomerate's stock worth $237,125,000 after purchasing an additional 904,654 shares during the last quarter. Findlay Park Partners LLP raised its holdings in shares of ITT by 94.7% during the first quarter. Findlay Park Partners LLP now owns 795,600 shares of the conglomerate's stock worth $102,760,000 after purchasing an additional 387,000 shares during the last quarter. Finally, Select Equity Group L.P. boosted its stake in shares of ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate's stock worth $652,237,000 after buying an additional 326,947 shares during the last quarter. 91.59% of the stock is currently 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.

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