ITT (NYSE:ITT) Price Target Raised to $150.00

ITT (NYSE:ITT) had its price objective upped by Stifel Nicolaus from $141.00 to $150.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Other research analysts also recently issued reports about the stock. Citigroup lifted their price target on shares of ITT from $139.00 to $157.00 and gave the stock a buy rating in a research note on Monday, April 8th. StockNews.com downgraded shares of ITT from a strong-buy rating to a buy rating in a research note on Tuesday, February 6th. DA Davidson raised their price objective on ITT from $140.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, March 26th. Finally, KeyCorp lifted their price objective on ITT from $136.00 to $150.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $135.57.

ITT Stock Performance

ITT stock opened at $124.99 on Wednesday. ITT has a fifty-two week low of $75.82 and a fifty-two week high of $138.29. The firm’s fifty day moving average price is $128.31 and its 200-day moving average price is $116.40. The stock has a market cap of $10.28 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. The firm had revenue of $829.10 million during the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, analysts predict that ITT will post 5.79 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were given a dividend of $0.319 per share. This is an increase from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s payout ratio is presently 25.81%.

Institutional Trading of ITT

Several institutional investors and hedge funds have recently bought and sold shares of ITT. Capital International Investors raised its position in shares of ITT by 0.3% in the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock worth $1,123,533,000 after acquiring an additional 29,057 shares in the last quarter. Vanguard Group Inc. raised its holdings in ITT by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock worth $1,009,902,000 after purchasing an additional 65,173 shares in the last quarter. FMR LLC lifted its position in ITT by 1.9% during the third quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the period. BlackRock Inc. boosted its holdings in shares of ITT by 1.0% during the 1st quarter. BlackRock Inc. now owns 7,156,066 shares of the conglomerate’s stock valued at $617,569,000 after buying an additional 68,487 shares in the last quarter. Finally, State Street Corp grew its position in shares of ITT by 1.3% in the 1st quarter. State Street Corp now owns 2,291,488 shares of the conglomerate’s stock worth $198,426,000 after buying an additional 29,808 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.