ITT Inc. (NYSE:ITT) Receives $168.38 Average Price Target from Analysts

ITT Inc. (NYSE:ITT) has earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $168.38.

Several equities research analysts have weighed in on ITT shares. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Stifel Nicolaus cut their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Citigroup dropped their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, KeyCorp increased their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st.

ITT Stock Down 0.2 %

NYSE ITT opened at $134.83 on Friday. The stock has a 50 day moving average price of $143.61 and a 200-day moving average price of $145.93. ITT has a one year low of $121.01 and a one year high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $10.97 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities analysts predict that ITT will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be given a dividend of $0.351 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. ITT’s payout ratio is 22.22%.

Hedge Funds Weigh In On ITT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in ITT in the fourth quarter worth about $134,433,000. Raymond James Financial Inc. purchased a new stake in shares of ITT in the 4th quarter worth approximately $73,762,000. Eagle Asset Management Inc. bought a new position in shares of ITT during the third quarter valued at approximately $67,503,000. T. Rowe Price Investment Management Inc. increased its holdings in ITT by 63.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock valued at $133,056,000 after buying an additional 360,123 shares during the period. Finally, Select Equity Group L.P. raised its stake in ITT by 7.7% in the fourth quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock worth $652,237,000 after buying an additional 326,947 shares in the last quarter. 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.