TD Cowen Raises ITT (NYSE:ITT) Price Target to $190.00

Key Points

• TD Cowen has raised its price target for ITT from $170.00 to $190.00, maintaining a "buy" rating on the stock, indicating a potential upside of 5.11% from its current price.
• Other analysts, including Citigroup and Bank of America, have also increased their price targets for ITT, with Bank of America setting a target of $210.00.
• ITT recently reported earnings of $1.64 per share, exceeding estimates and showing a year-over-year revenue increase of 7.3% to $972.40 million.

ITT (NYSE:ITT - Get Free Report) had its target price hoisted by investment analysts at TD Cowen from $170.00 to $190.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the conglomerate's stock. TD Cowen's target price would suggest a potential upside of 5.11% from the company's current price.

Several other equities analysts have also recently commented on the stock. Citigroup reissued a "buy" rating and issued a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. KeyCorp raised their price target on shares of ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Cowen reaffirmed a "buy" rating on shares of ITT in a research report on Thursday. Bank of America lifted their price objective on shares of ITT from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Finally, UBS Group lifted their price objective on shares of ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $190.89.

ITT Trading Up 0.1%

Shares of NYSE ITT traded up $0.16 during midday trading on Thursday, reaching $180.76. 48,175 shares of the stock were exchanged, compared to its average volume of 487,252. The company has a 50 day simple moving average of $171.07 and a 200 day simple moving average of $153.34. The stock has a market capitalization of $14.10 billion, a P/E ratio of 28.40, a PEG ratio of 2.20 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT has a twelve month low of $105.64 and a twelve month high of $185.57.

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

Insider Activity

In other 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 transaction, the chief executive officer 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 filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On ITT

Large investors have recently made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new stake in shares of ITT in the second quarter worth $27,000. Atlantic Union Bankshares Corp acquired a new stake in shares of ITT in the second quarter worth $34,000. MTM Investment Management LLC acquired a new stake in shares of ITT in the second quarter worth $39,000. Clearstead Trust LLC increased its position in shares of ITT by 40.0% in the second quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate's stock worth $55,000 after acquiring an additional 100 shares in the last quarter. Finally, NewSquare Capital LLC increased its position in shares of ITT by 37.2% in the second quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate's stock worth $71,000 after acquiring an additional 123 shares in the last quarter. 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.

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