ITT (NYSE:ITT) PT Raised to $157.00 at Citigroup

ITT (NYSE:ITT - Free Report) had its price objective upped by Citigroup from $139.00 to $157.00 in a research report released on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the conglomerate's stock.

ITT has been the subject of a number of other research reports. DA Davidson lifted their price objective on ITT from $140.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, March 26th. Stifel Nicolaus lifted their price objective on ITT from $122.00 to $131.00 and gave the company a buy rating in a research report on Tuesday, December 19th. Finally, StockNews.com cut ITT from a strong-buy rating to a buy rating in a research report on Tuesday, February 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $127.86.

ITT Stock Up 0.2 %

Shares of ITT stock traded up $0.32 during midday trading on Monday, hitting $132.91. The company's stock had a trading volume of 182,924 shares, compared to its average volume of 360,512. The firm has a market capitalization of $10.93 billion, a P/E ratio of 26.80, a PEG ratio of 1.82 and a beta of 1.43. The stock has a 50-day simple moving average of $127.52 and a 200-day simple moving average of $114.70. ITT has a 1-year low of $75.82 and a 1-year high of $138.29.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting the consensus estimate of $1.34. The business had revenue of $829.10 million during the quarter, compared to analysts' expectations of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. ITT's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, sell-side analysts predict that ITT will post 5.79 earnings per share for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a $0.319 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from ITT's previous quarterly dividend of $0.29. ITT's payout ratio is currently 25.81%.

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of ITT in the fourth quarter worth about $100,000. HighPoint Advisor Group LLC acquired a new position in shares of ITT during the 4th quarter worth about $622,000. Quadrature Capital Ltd acquired a new position in shares of ITT during the 4th quarter worth about $394,000. Vanguard Group Inc. lifted its position in shares of ITT by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate's stock worth $1,009,902,000 after purchasing an additional 65,173 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in shares of ITT during the 4th quarter worth about $247,000. Institutional investors and hedge funds 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.