UBS Group Boosts ITT (NYSE:ITT) Price Target to $158.00

ITT (NYSE:ITT - Free Report) had its price objective raised by UBS Group from $135.00 to $158.00 in a research note released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the conglomerate's stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut ITT from a strong-buy rating to a buy rating in a research note on Tuesday, February 6th. Stifel Nicolaus upped their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, April 17th. KeyCorp boosted their price target on ITT from $136.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. DA Davidson increased their target price on ITT from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Finally, Citigroup lifted their price target on ITT from $139.00 to $157.00 and gave the stock a buy rating in a research report on Monday, April 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT currently has a consensus rating of Buy and a consensus target price of $138.38.

ITT Trading Up 1.3 %

NYSE:ITT traded up $1.78 during mid-day trading on Wednesday, reaching $136.41. 716,674 shares of the company's stock traded hands, compared to its average volume of 380,691. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.76 and a beta of 1.43. ITT has a 12-month low of $75.82 and a 12-month high of $138.29. The company has a 50 day moving average price of $129.75 and a 200-day moving average price of $119.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data 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 net margin of 12.41% and a return on equity of 18.21%. The business had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. During the same period in the prior year, the business earned $1.17 EPS. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that ITT will post 5.8 earnings per share for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, June 3rd. ITT's dividend payout ratio (DPR) is presently 25.10%.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in ITT. Cambridge Investment Research Advisors Inc. boosted its stake in shares of ITT by 6.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,815 shares of the conglomerate's stock worth $374,000 after acquiring an additional 216 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of ITT by 17.4% in the third quarter. Mackenzie Financial Corp now owns 5,863 shares of the conglomerate's stock worth $562,000 after buying an additional 867 shares during the period. Strs Ohio grew its stake in shares of ITT by 4.5% during the 3rd quarter. Strs Ohio now owns 19,986 shares of the conglomerate's stock valued at $1,956,000 after acquiring an additional 864 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in ITT by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,558 shares of the conglomerate's stock worth $10,923,000 after acquiring an additional 4,035 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of ITT in the third quarter worth approximately $626,000. Hedge funds and other institutional investors 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.