ITT (NYSE:ITT) Price Target Lowered to $179.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its price objective trimmed by Stifel Nicolaus from $180.00 to $179.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

A number of other research firms also recently commented on ITT. TD Cowen raised their target price on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. KeyCorp lifted their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com cut ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup reduced their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.13.

ITT Stock Performance

ITT stock opened at $151.30 on Friday. 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 market capitalization of $12.33 billion, a PE ratio of 25.82, a P/E/G ratio of 1.84 and a beta of 1.41. The company has a 50 day moving average price of $149.38 and a 200-day moving average price of $144.20. ITT has a fifty-two week low of $118.58 and a fifty-two week high of $161.13.

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 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%. ITT’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 EPS. As a group, equities 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 was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.319 per share. The ex-dividend date was Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.84%. ITT’s dividend payout ratio (DPR) is 21.84%.

Institutional Investors Weigh In On ITT

Large investors have recently modified their holdings of the business. M&T Bank Corp boosted its stake in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after purchasing an additional 69 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of ITT by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after buying an additional 87 shares during the last quarter. Round Rock Advisors LLC lifted its stake in shares of ITT by 0.4% during the third quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after buying an additional 90 shares during the period. Tectonic Advisors LLC grew its holdings in shares of ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after buying an additional 93 shares during the last quarter. Finally, AE Wealth Management LLC increased its position in shares of ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after acquiring an additional 100 shares during the period. Hedge funds and other 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.