ITT (NYSE:ITT) Price Target Lowered to $148.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its price objective lowered by Stifel Nicolaus from $179.00 to $148.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

A number of other research analysts have also recently commented on the stock. Citigroup decreased their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp decreased their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. StockNews.com raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, UBS Group lifted their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.57.

ITT Price Performance

ITT opened at $126.88 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The firm has a market capitalization of $10.27 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. ITT has a 1 year low of $105.64 and a 1 year high of $161.13. The business’s 50-day moving average is $135.38 and its two-hundred day moving average is $144.21.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Research analysts anticipate that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 22.22%.

Hedge Funds Weigh In On ITT

Several hedge funds have recently made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in ITT during the fourth quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT in the fourth quarter valued at $30,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the fourth quarter worth approximately $34,000. Quarry LP raised its position in shares of ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock worth $35,000 after buying an additional 125 shares during the period. Finally, V Square Quantitative Management LLC increased its position in ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after purchasing an additional 182 shares in the last quarter. 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.