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

Shares of ITT Inc. (NYSE:ITT) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $135.57.

Several research firms have issued reports on ITT. Stifel Nicolaus lifted their price target on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. DA Davidson lifted their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Citigroup boosted their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, KeyCorp boosted their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th.

ITT Stock Up 1.0 %

ITT stock opened at $132.55 on Tuesday. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.80 and a beta of 1.43. The business has a fifty day simple moving average of $129.14 and a 200-day simple moving average of $117.99. ITT has a 52 week low of $75.82 and a 52 week high of $138.29.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. As a group, analysts expect that ITT will post 5.8 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.319 dividend. This is an increase from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.60%.

Institutional Investors Weigh In On ITT

Hedge funds have recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in ITT by 0.3% during the fourth quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after acquiring an additional 29,057 shares in the last quarter. Vanguard Group Inc. grew its position in ITT by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares during the period. FMR LLC grew its position in ITT by 1.9% during the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the period. Massachusetts Financial Services Co. MA boosted its position in ITT by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after purchasing an additional 5,495 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in ITT by 1.1% during the third quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock worth $132,581,000 after purchasing an additional 14,857 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.