TD Cowen Raises ITT (NYSE:ITT) Price Target to $150.00

ITT (NYSE:ITT) had its target price increased by TD Cowen from $125.00 to $150.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. TD Cowen’s price target would indicate a potential upside of 9.22% from the stock’s current price.

A number of other research firms also recently issued reports on ITT. KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. DA Davidson increased their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Stifel Nicolaus increased their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Citigroup increased their target price on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, UBS Group increased their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $144.00.

ITT Stock Up 1.8 %

Shares of NYSE ITT traded up $2.38 during midday trading on Monday, reaching $137.34. 114,963 shares of the company’s stock traded hands, compared to its average volume of 380,692. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $131.77 and its 200-day simple moving average is $127.65. ITT has a one year low of $91.94 and a one year high of $140.20. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 1.75 and a beta of 1.42.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $1.17 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that ITT will post 5.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC purchased a new position in shares of ITT during the second quarter worth $1,508,000. SG Americas Securities LLC purchased a new position in shares of ITT during the second quarter worth $4,873,000. Register Financial Advisors LLC raised its position in ITT by 43.4% during the second quarter. Register Financial Advisors LLC now owns 4,954 shares of the conglomerate’s stock valued at $640,000 after acquiring an additional 1,500 shares in the last quarter. CWM LLC boosted its position in ITT by 69.1% in the 2nd quarter. CWM LLC now owns 1,331 shares of the conglomerate’s stock worth $172,000 after purchasing an additional 544 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of ITT by 242.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,407 shares of the conglomerate’s stock worth $2,895,000 after purchasing an additional 15,866 shares during the period. Hedge funds and other 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.