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

ITT Inc. (NYSE:ITT) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $165.13.

Several equities research analysts have recently weighed in on ITT shares. KeyCorp increased their price objective 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. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus lifted their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, TD Cowen raised 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.

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of ITT during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV bought a new position in ITT during the third quarter valued at $30,000. Headlands Technologies LLC purchased a new stake in ITT in the second quarter worth $32,000. UMB Bank n.a. raised its stake in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of ITT during the 2nd quarter worth $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Up 0.7 %

Shares of NYSE:ITT opened at $154.21 on Wednesday. ITT has a 52-week low of $111.96 and a 52-week high of $161.13. The company has a market capitalization of $12.57 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.02 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 company has a fifty day moving average of $150.91 and a 200-day moving average of $140.25.

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

ITT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. ITT’s dividend payout ratio is currently 21.67%.

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.