ITT (NYSE:ITT) Price Target Raised to $180.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its target price hoisted by Stifel Nicolaus from $171.00 to $180.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Other analysts also recently issued research reports about the stock. KeyCorp increased their target price 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. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded ITT from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Wolfe Research began coverage on ITT in a research note on Wednesday. They set a “peer perform” rating on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.75.

ITT Stock Down 1.0 %

Shares of ITT opened at $150.68 on Wednesday. ITT has a fifty-two week low of $113.70 and a fifty-two week high of $161.13. The company’s fifty day moving average is $151.18 and its two-hundred day moving average is $140.52. The firm has a market cap of $12.28 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. 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 (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share. Analysts forecast that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ITT. Eagle Asset Management Inc. acquired a new position in shares of ITT in the 3rd quarter valued at approximately $67,503,000. Mawer Investment Management Ltd. acquired a new stake in ITT in the second quarter valued at $49,043,000. Select Equity Group L.P. boosted its stake 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 valued at $431,512,000 after acquiring an additional 351,206 shares during the last quarter. Millennium Management LLC grew its holdings in ITT by 200.4% during the 2nd 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 increased its position in shares of ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.