ITT (NYSE:ITT) Given New $158.00 Price Target at UBS Group

ITT (NYSE:ITT) had its price target increased by UBS Group from $135.00 to $158.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

Several other equities analysts have also recently issued reports on ITT. Stifel Nicolaus lifted their price objective on ITT from $141.00 to $150.00 and gave the stock a buy rating in a report on Wednesday, April 17th. StockNews.com lowered shares of ITT from a strong-buy rating to a buy rating in a research report on Tuesday, February 6th. KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, March 26th. Finally, Citigroup lifted their price objective on ITT from $139.00 to $157.00 and gave the stock a buy rating in a research report on Monday, April 8th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $138.38.

ITT Price Performance

NYSE:ITT traded up $2.12 during trading hours on Wednesday, hitting $138.51. The company’s stock had a trading volume of 132,842 shares, compared to its average volume of 377,850. The company has a market capitalization of $11.40 billion, a PE ratio of 27.14, a PEG ratio of 1.76 and a beta of 1.43. ITT has a 52-week low of $75.82 and a 52-week high of $138.72. The business’s 50-day moving average is $129.97 and its two-hundred day moving average is $119.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that ITT will post 5.8 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. ITT’s dividend payout ratio (DPR) is 25.10%.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. Cambridge Investment Research Advisors Inc. raised its stake in shares of ITT by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,815 shares of the conglomerate’s stock valued at $374,000 after purchasing an additional 216 shares in the last quarter. Mackenzie Financial Corp raised its stake in ITT by 17.4% during the third quarter. Mackenzie Financial Corp now owns 5,863 shares of the conglomerate’s stock valued at $562,000 after buying an additional 867 shares in the last quarter. Strs Ohio lifted its holdings in ITT by 4.5% during the 3rd quarter. Strs Ohio now owns 19,986 shares of the conglomerate’s stock worth $1,956,000 after buying an additional 864 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ITT by 3.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,558 shares of the conglomerate’s stock worth $10,923,000 after acquiring an additional 4,035 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of ITT in the 3rd quarter valued at approximately $626,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.