ITT (NYSE:ITT) Price Target Raised to $186.00 at Citigroup

ITT (NYSE:ITT) had its price objective hoisted by Citigroup from $159.00 to $186.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of a number of other research reports. Wall Street Zen upgraded ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. KeyCorp boosted their price objective on ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price objective on ITT from $160.00 to $177.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Bank of America boosted their price objective on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus upped their price target on ITT from $161.00 to $171.00 and gave the company a “buy” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus price target of $170.00.

ITT Trading Up 0.2%

NYSE:ITT opened at $158.11 on Monday. The stock has a 50 day simple moving average of $152.08 and a 200 day simple moving average of $143.25. ITT has a 1-year low of $105.64 and a 1-year high of $161.79. The stock has a market cap of $12.44 billion, a P/E ratio of 25.14, a PEG ratio of 2.00 and a beta of 1.35.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.01. ITT had a return on equity of 17.75% and a net margin of 14.19%. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. During the same quarter last year, the company earned $1.42 EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that ITT will post 6.51 EPS for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Monday, June 2nd. ITT’s dividend payout ratio is 22.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ITT. Independent Advisor Alliance lifted its stake in shares of ITT by 20.7% in the 4th quarter. Independent Advisor Alliance now owns 2,684 shares of the conglomerate’s stock valued at $384,000 after purchasing an additional 461 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of ITT by 10.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the conglomerate’s stock valued at $183,000 after purchasing an additional 116 shares during the period. Vestcor Inc acquired a new position in shares of ITT in the 4th quarter valued at about $675,000. Natixis Advisors LLC lifted its stake in shares of ITT by 1.7% in the 4th quarter. Natixis Advisors LLC now owns 71,488 shares of the conglomerate’s stock valued at $10,214,000 after purchasing an additional 1,176 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate’s stock valued at $2,008,000 after purchasing an additional 9,633 shares during the period. 91.59% of the stock is 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.