ITT (NYSE:ITT) Research Coverage Started at Wolfe Research

Wolfe Research began coverage on shares of ITT (NYSE:ITT) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm issued a peer perform rating on the conglomerate’s stock.

A number of other brokerages have also recently weighed in on ITT. Stifel Nicolaus upped their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird reduced their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. TD Cowen boosted their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, The Goldman Sachs Group lifted their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Down 1.0 %

ITT opened at $150.68 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT has a 52 week low of $113.70 and a 52 week high of $161.13. The stock has a market cap of $12.28 billion, a PE ratio of 25.71, a PEG ratio of 1.99 and a beta of 1.40. The business has a 50 day moving average of $151.18 and a 200-day moving average of $140.52.

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

ITT Announces Dividend

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

Hedge Funds Weigh In On ITT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of ITT by 12.4% during the third quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate’s stock valued at $970,000 after purchasing an additional 716 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ITT during the 3rd quarter valued at $64,000. Sanctuary Advisors LLC lifted its holdings in shares of ITT by 6.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock valued at $626,000 after buying an additional 225 shares during the period. Geode Capital Management LLC boosted its stake 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 worth $204,736,000 after buying an additional 8,223 shares during the last quarter. Finally, Resources Management Corp CT ADV bought a new stake in shares of ITT in the third quarter worth $30,000. 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.