KeyCorp Raises ITT (NYSE:ITT) Price Target to $200.00

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 - Get Free Report) had its price objective upped by analysts at KeyCorp from $192.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the conglomerate's stock. KeyCorp's price objective would suggest a potential upside of 12.16% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Bank of America upped their price target 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. Citigroup restated a "buy" rating and set a $186.00 price target (up from $159.00) on shares of ITT in a research note on Monday, July 14th. UBS Group upped their price target 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. The Goldman Sachs Group upped their price target 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. Finally, Stifel Nicolaus upped their price target on shares of ITT from $197.00 to $202.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $183.67.

ITT Stock Up 2.5%

ITT stock opened at $178.32 on Friday. ITT has a twelve month low of $105.64 and a twelve month high of $178.69. The firm has a 50 day moving average price of $165.28 and a 200-day moving average price of $149.27. The company has a market capitalization of $13.91 billion, a P/E ratio of 28.04, a P/E/G ratio of 2.15 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 announced its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.02. The company had revenue of $972.40 million for the quarter, compared to analysts' expectations of $947.48 million. ITT had a net margin of 13.99% and a return on equity of 18.08%. ITT's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities analysts predict that ITT will post 6.51 EPS for the current year.

Insider Transactions at ITT

In other ITT news, CEO Luca Savi sold 36,385 shares of the 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 sale, the chief executive officer directly owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of ITT

Several institutional investors and hedge funds have recently made changes to their positions in 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 purchased a new stake in shares of ITT during the 2nd quarter valued at $34,000. MTM Investment Management LLC purchased a new stake in shares of ITT during the 2nd quarter valued at $39,000. Clearstead Trust LLC raised 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 buying an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc raised its position 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 valued at $70,000 after buying an additional 527 shares in the last quarter. Hedge funds and other 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.

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