ITT (NYSE:ITT) Given New $100.00 Price Target at DA Davidson

ITT (NYSE:ITT – Get Rating) had its target price trimmed by DA Davidson from $110.00 to $100.00 in a research report sent to investors on Tuesday, The Fly reports. The firm currently has a buy rating on the conglomerate’s stock.

Several other research analysts have also recently issued reports on ITT. KeyCorp dropped their price target on ITT from $113.00 to $100.00 in a report on Wednesday, May 4th. Stifel Nicolaus dropped their price target on ITT from $107.00 to $91.00 and set a buy rating on the stock in a report on Monday, April 18th. The Goldman Sachs Group dropped their price target on ITT from $109.00 to $94.00 and set a buy rating on the stock in a report on Thursday, April 7th. UBS Group raised ITT from a neutral rating to a buy rating and dropped their price target for the company from $107.00 to $95.00 in a report on Friday, April 8th. Finally, Oppenheimer downgraded shares of ITT from an outperform rating to a market perform rating in a research note on Monday, March 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $100.00.

ITT opened at $66.49 on Tuesday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.50. ITT has a 1-year low of $64.08 and a 1-year high of $105.54. The business has a 50 day moving average price of $71.14 and a two-hundred day moving average price of $82.91.

ITT (NYSE:ITT – Get Rating) last released its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.97. The firm had revenue of $726.20 million during the quarter, compared to the consensus estimate of $695.93 million. ITT had a return on equity of 15.90% and a net margin of 10.92%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. As a group, research analysts predict that ITT will post 4.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 17th will be issued a dividend of $0.264 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, June 16th. ITT’s payout ratio is 29.94%.

Several hedge funds and other institutional investors have recently bought and sold shares of ITT. Capital International Investors increased its holdings in shares of ITT by 7.2% during the fourth quarter. Capital International Investors now owns 9,913,100 shares of the conglomerate’s stock worth $1,013,020,000 after buying an additional 669,698 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of ITT during the first quarter valued at approximately $35,055,000. Capital Group Private Client Services Inc. grew its stake in shares of ITT by 269.4% during the fourth quarter. Capital Group Private Client Services Inc. now owns 508,733 shares of the conglomerate’s stock valued at $51,987,000 after purchasing an additional 371,011 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ITT by 58.4% during the first quarter. Goldman Sachs Group Inc. now owns 913,985 shares of the conglomerate’s stock valued at $68,741,000 after purchasing an additional 336,860 shares during the last quarter. Finally, Leeward Investments LLC MA bought a new stake in shares of ITT during the first quarter valued at approximately $20,349,000. 95.64% of the stock is owned by institutional investors.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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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