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

Key Points

• KeyCorp has raised its price target for ITT from $192.00 to $200.00, indicating a potential upside of 12.16% based on the stock's previous close.
• Overall, ITT has received multiple upgrades from various analysts, with a current consensus rating of "Moderate Buy" and a target price of $183.67.
• In its latest earnings report, ITT beat analyst expectations with an EPS of $1.64 and reported revenue of $972.40 million, a 7.3% increase from the previous year.

ITT (NYSE:ITT - Free Report) had its target price boosted by KeyCorp from $192.00 to $200.00 in a research note issued to investors on Friday, Marketbeat.com reports. The firm currently has an overweight rating on the conglomerate's stock.

Several other analysts have also commented on ITT. DA Davidson set a $190.00 target price on shares of ITT and gave the company a "buy" rating in a research note on Monday, August 4th. Bank of America upped their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group upped their price objective 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. Citigroup reiterated a "buy" rating and issued a $186.00 price objective (up previously from $159.00) on shares of ITT in a research note on Monday, July 14th. Finally, UBS Group upped their price objective on shares of ITT from $168.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.11.

ITT Price Performance

Shares of ITT stock traded up $1.47 on Friday, hitting $183.31. The company had a trading volume of 225,711 shares, compared to its average volume of 488,498. ITT has a 52 week low of $105.64 and a 52 week high of $183.15. The company has a market cap of $14.30 billion, a PE ratio of 28.82, a PEG ratio of 2.22 and a beta of 1.39. The business has a 50-day simple moving average of $166.51 and a 200-day simple moving average of $150.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.99.

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

ITT Dividend Announcement

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

Insider Buying and Selling

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

Institutional Trading of ITT

Large investors have recently modified their holdings of the company. Jump Financial LLC boosted its holdings in shares of ITT by 145.8% during the 1st quarter. Jump Financial LLC now owns 17,152 shares of the conglomerate's stock worth $2,215,000 after buying an additional 10,173 shares during the period. GSA Capital Partners LLP acquired a new position in shares of ITT during the first quarter valued at about $609,000. XTX Topco Ltd acquired a new position in shares of ITT during the first quarter valued at about $1,214,000. Charles Schwab Investment Management Inc. raised its position in shares of ITT by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,212 shares of the conglomerate's stock valued at $67,449,000 after buying an additional 4,905 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of ITT during the 1st quarter worth about $273,000. 91.59% of the stock is owned by 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.