ITT (NYSE:ITT) Price Target Raised to $171.00

ITT (NYSE:ITT) had its price objective upped by Stifel Nicolaus from $161.00 to $171.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of several other reports. UBS Group increased their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Citigroup cut their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, KeyCorp increased their price objective on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $163.29.

ITT Price Performance

ITT opened at $152.99 on Friday. ITT has a one year low of $105.64 and a one year high of $161.13. 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 company’s 50 day simple moving average is $133.49 and its 200-day simple moving average is $142.71. The stock has a market capitalization of $12.04 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $901.22 million. During the same period in the prior year, the firm earned $1.42 earnings per share. ITT’s revenue was up .3% compared to the same quarter last year. Sell-side analysts anticipate that ITT will post 6.51 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.92%. ITT’s dividend payout ratio (DPR) is presently 22.26%.

Institutional Investors Weigh In On ITT

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock worth $73,913,000 after purchasing an additional 3,424 shares during the period. Venturi Wealth Management LLC raised its holdings in ITT by 880.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 1,936 shares during the period. AlphaQuest LLC raised its holdings in ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate’s stock worth $601,000 after purchasing an additional 3,403 shares during the period. ING Groep NV acquired a new stake in ITT in the fourth quarter worth $1,214,000. Finally, Intech Investment Management LLC raised its holdings in ITT by 218.0% in the fourth quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock worth $2,008,000 after purchasing an additional 9,633 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.