ITT Inc. (NYSE:ITT) Receives $155.25 Consensus Price Target from Brokerages

ITT Inc. (NYSE:ITT) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $155.25.

A number of research firms have weighed in on ITT. TD Cowen lifted their target price on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. KeyCorp upped their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus upped their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

Hedge Funds Weigh In On ITT

Hedge funds and other institutional investors have recently modified their holdings of the company. Lynx Investment Advisory bought a new stake in ITT in the 2nd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new stake in shares of ITT in the 2nd quarter valued at $32,000. UMB Bank n.a. grew its holdings in shares of ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in ITT in the 2nd quarter worth $36,000. Finally, Quent Capital LLC lifted its stake in ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares during the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $144.15 on Tuesday. ITT has a 12 month low of $91.94 and a 12 month high of $153.99. The stock has a market capitalization of $11.78 billion, a P/E ratio of 27.51, a PEG ratio of 1.92 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $142.35 and its 200 day moving average is $135.90.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. On average, sell-side analysts anticipate that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. ITT’s payout ratio is 24.43%.

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.