ITT (NYSE:ITT) Hits New 1-Year High After Analyst Upgrade

Shares of ITT Inc. (NYSE:ITT - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $135.00 to $158.00. UBS Group currently has a buy rating on the stock. ITT traded as high as $138.62 and last traded at $138.49, with a volume of 110524 shares traded. The stock had previously closed at $136.39.

ITT has been the subject of several other research reports. DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th. KeyCorp raised their price target on shares of ITT from $136.00 to $150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. StockNews.com lowered ITT from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 6th. Finally, Citigroup upped their price target on ITT from $139.00 to $157.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $138.38.

Institutional Investors Weigh In On ITT

Several institutional investors have recently made changes to their positions in ITT. Rise Advisors LLC lifted its holdings in ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate's stock worth $31,000 after purchasing an additional 205 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate's stock valued at $48,000 after acquiring an additional 204 shares during the period. Clearstead Advisors LLC grew its stake in ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate's stock valued at $54,000 after acquiring an additional 250 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in ITT during the 1st quarter worth approximately $68,000. Finally, Bfsg LLC purchased a new stake in ITT in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 91.59% of the company's stock.

ITT Stock Performance

The company's fifty day simple moving average is $129.97 and its 200 day simple moving average is $119.48. The stock has a market capitalization of $11.35 billion, a P/E ratio of 27.14, a P/E/G ratio of 1.76 and a beta of 1.43. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

ITT (NYSE:ITT - Get Free Report) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business had revenue of $910.60 million during the quarter, compared to analysts' expectations of $883.21 million. During the same period in the previous year, the business earned $1.17 earnings per share. The firm's revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that ITT Inc. will post 5.8 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Monday, June 3rd. ITT's dividend payout ratio is currently 25.10%.

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.