KeyCorp Issues Positive Forecast for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price target boosted by KeyCorp from $164.00 to $170.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the conglomerate’s stock.

Other equities research analysts also recently issued reports about the stock. Citigroup dropped their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Robert W. Baird cut their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus price target of $167.25.

ITT Stock Up 1.6 %

ITT opened at $153.67 on Tuesday. ITT has a twelve month low of $118.58 and a twelve month high of $161.13. The company’s 50-day moving average price is $149.38 and its two-hundred day moving average price is $143.67. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.81 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Institutional Trading of ITT

Several institutional investors have recently added to or reduced their stakes in ITT. Eagle Asset Management Inc. purchased a new stake in shares of ITT during the third quarter valued at approximately $67,503,000. Select Equity Group L.P. raised its holdings 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 acquiring an additional 351,206 shares in the last quarter. Millennium Management LLC boosted its holdings in ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after acquiring an additional 262,470 shares in the last quarter. AQR Capital Management LLC increased its position in ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of ITT in the 2nd quarter worth about $9,936,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.