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

ITT Inc. (NYSE:ITT) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $138.38.

ITT has been the subject of several research reports. KeyCorp raised their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus increased their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Citigroup boosted their price target on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. UBS Group increased their price objective on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, DA Davidson boosted their target price 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.

Institutional Investors Weigh In On ITT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of ITT during the fourth quarter worth $102,709,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock worth $92,751,000 after purchasing an additional 288,671 shares during the last quarter. BNP Paribas Asset Management Holding S.A. lifted its position in ITT by 139.7% during the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 393,168 shares of the conglomerate’s stock valued at $46,912,000 after purchasing an additional 229,109 shares during the period. Invesco Ltd. boosted its stake in shares of ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after purchasing an additional 195,111 shares during the last quarter. Finally, Scopus Asset Management L.P. boosted its stake in shares of ITT by 127.3% in the 3rd quarter. Scopus Asset Management L.P. now owns 196,391 shares of the conglomerate’s stock valued at $19,229,000 after purchasing an additional 110,000 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

ITT Price Performance

Shares of ITT stock opened at $130.96 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The company has a market cap of $10.78 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.64 and a beta of 1.44. The firm has a fifty day moving average price of $131.64 and a two-hundred day moving average price of $125.78. ITT has a fifty-two week low of $85.92 and a fifty-two week high of $140.20.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business 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 business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that ITT will post 5.85 EPS for the current year.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, June 3rd. ITT’s payout ratio is presently 25.10%.

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.