ITT Inc. (NYSE:ITT) Receives $165.13 Average PT from Brokerages

Shares of ITT Inc. (NYSE:ITT) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $166.75.

ITT has been the subject of a number of analyst reports. Wolfe Research began coverage on ITT in a research report on Wednesday. They set a “peer perform” rating for the company. Citigroup increased their target price on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Robert W. Baird dropped their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th.

Institutional Investors Weigh In On ITT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Select Equity Group L.P. raised its holdings in ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after buying an additional 351,206 shares during the period. State Street Corp raised its holdings in shares of ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after acquiring an additional 26,133 shares during the period. Geode Capital Management LLC lifted its position in shares of ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares during the period. Finally, Bank of New York Mellon Corp grew its position in ITT by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after purchasing an additional 3,370 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

ITT stock opened at $150.68 on Wednesday. ITT has a 1 year low of $113.70 and a 1 year high of $161.13. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock’s fifty day moving average is $151.18 and its two-hundred day moving average is $140.52.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the firm posted $1.37 EPS. ITT’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts predict that ITT will post 5.84 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio is presently 21.67%.

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.