Brokerages Set ITT Inc. (NYSE:ITT) Price Target at $135.57

Shares of ITT Inc. (NYSE:ITT) have earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $135.57.

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Citigroup increased their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. DA Davidson raised their price objective on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. KeyCorp upped their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. AA Financial Advisors LLC bought a new stake in ITT during the first quarter valued at $204,000. Central Pacific Bank Trust Division bought a new stake in ITT in the first quarter worth $2,285,000. Suncoast Equity Management raised its holdings in ITT by 5.4% during the 1st quarter. Suncoast Equity Management now owns 9,365 shares of the conglomerate’s stock valued at $1,274,000 after buying an additional 480 shares during the last quarter. Fortem Financial Group LLC raised its position in ITT by 12.6% during the 1st quarter. Fortem Financial Group LLC now owns 10,124 shares of the conglomerate’s stock valued at $1,377,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its position in shares of ITT by 95.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 6,773 shares of the conglomerate’s stock worth $921,000 after purchasing an additional 3,316 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of NYSE ITT opened at $128.31 on Tuesday. The business’s 50 day moving average is $129.45 and its 200-day moving average is $118.53. The firm has a market cap of $10.55 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. ITT has a 1-year low of $75.82 and a 1-year high of $138.29. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.09.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. Equities research analysts predict that ITT will post 5.8 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. ITT’s dividend payout ratio is 24.90%.

About ITT

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.