Brokerages Set ITT Inc. (NYSE:ITT) Price Target at $166.75

ITT Inc. (NYSE:ITT) has been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $166.75.

Several research firms recently issued reports on ITT. Robert W. Baird cut their price objective on shares of 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 raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. KeyCorp raised their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th.

Institutional Investors Weigh In On ITT

Several large investors have recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP acquired a new position in shares of ITT in the third quarter worth $26,000. Resources Management Corp CT ADV acquired a new position in ITT during the 3rd quarter worth $30,000. UMB Bank n.a. increased its holdings in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the period. Headlands Technologies LLC purchased a new position in shares of ITT in the 2nd quarter valued at about $32,000. Finally, Brown Brothers Harriman & Co. purchased a new position in ITT in the second quarter valued at $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Price Performance

Shares of NYSE ITT opened at $143.58 on Friday. The firm has a 50-day simple moving average of $149.76 and a 200-day simple moving average of $142.40. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. ITT has a 52 week low of $114.24 and a 52 week high of $161.13.

ITT (NYSE:ITT) last released its quarterly earnings data 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 company had revenue of $885.20 million for 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, equities analysts predict that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.319 per share. The ex-dividend date was Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. ITT’s dividend payout ratio is presently 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.