ITT (NYSE:ITT) Price Target Increased to $158.00 by Analysts at UBS Group

ITT (NYSE:ITT) had its target price hoisted by UBS Group from $135.00 to $158.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

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

ITT Stock Up 1.6 %

Shares of NYSE ITT traded up $2.12 during mid-day trading on Wednesday, reaching $138.51. 132,842 shares of the company’s stock were exchanged, compared to its average volume of 377,850. ITT has a twelve month low of $75.82 and a twelve month high of $138.72. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 1.76 and a beta of 1.43. The business has a fifty day simple moving average of $129.97 and a 200 day simple moving average of $119.48.

ITT (NYSE:ITT) last announced its earnings results 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 firm had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same period last year, the company posted $1.17 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts expect that ITT will post 5.8 EPS for the current fiscal year.

ITT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. ITT’s payout ratio is 25.10%.

Institutional Trading of ITT

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC lifted its stake in ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares during the last quarter. AdvisorNet Financial Inc lifted its position in shares of ITT by 101.0% during the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after buying an additional 204 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in ITT in the first quarter valued at about $68,000. Clearstead Advisors LLC grew its position in ITT by 81.7% in the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after acquiring an additional 250 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in ITT during the first quarter worth about $76,000. 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.