ITT Inc. (NYSE:ITT) Given Consensus Rating of “Buy” by Brokerages

ITT Inc. (NYSE:ITT) has been assigned an average rating of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $155.25.

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

ITT Price Performance

Shares of ITT stock opened at $143.78 on Tuesday. ITT has a 52 week low of $91.94 and a 52 week high of $153.99. The stock has a market capitalization of $11.75 billion, a PE ratio of 27.44, a PEG ratio of 1.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. The stock’s fifty day moving average is $142.17 and its 200-day moving average is $135.77.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same quarter in the prior year, the firm earned $1.33 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITT. Mawer Investment Management Ltd. acquired a new stake in ITT during the 2nd quarter worth approximately $49,043,000. Select Equity Group L.P. grew its holdings in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after acquiring an additional 351,206 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of ITT by 73.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after acquiring an additional 288,671 shares during the last quarter. Millennium Management LLC raised its holdings in ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.