Analysts Set ITT Inc. (NYSE:ITT) PT at $166.75

Shares of ITT Inc. (NYSE:ITT) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $166.75.

Several research analysts recently commented on the company. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They issued a “peer perform” rating for the company. KeyCorp lifted their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com upgraded ITT from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. Citigroup lifted their price objective on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On ITT

A number of institutional investors have recently modified their holdings of ITT. Eagle Asset Management Inc. bought a new position in ITT in the third quarter worth approximately $67,503,000. Mawer Investment Management Ltd. bought a new position in shares of ITT during the 2nd quarter worth $49,043,000. Select Equity Group L.P. increased its stake in shares of ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares during the period. Millennium Management LLC increased its stake in shares of ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after buying an additional 262,470 shares during the period. Finally, AQR Capital Management LLC lifted its stake in ITT by 115.6% in the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after acquiring an additional 131,708 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Stock Performance

NYSE ITT opened at $142.78 on Friday. The stock has a market capitalization of $11.64 billion, a PE ratio of 24.37, a P/E/G ratio of 1.95 and a beta of 1.41. ITT has a 1-year low of $114.24 and a 1-year high of $161.13. The business has a 50 day simple moving average of $149.77 and a two-hundred day simple moving average of $142.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the previous year, the business posted $1.37 earnings per share. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts predict that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a $0.319 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.89%. ITT’s dividend payout ratio (DPR) is 21.67%.

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.