ITT (NYSE:ITT) Price Target Lowered to $179.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its price objective cut by equities research analysts at Stifel Nicolaus from $180.00 to $179.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 18.12% from the stock’s current price.

ITT has been the subject of several other research reports. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Citigroup cut their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp boosted their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird dropped their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, ITT has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT Stock Performance

NYSE:ITT traded down $1.67 during trading hours on Friday, hitting $151.54. 30,817 shares of the company traded hands, compared to its average volume of 329,889. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 1.84 and a beta of 1.41. ITT has a twelve month low of $118.58 and a twelve month high of $161.13. The firm has a 50-day moving average of $149.40 and a 200 day moving average of $143.80. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts forecast that ITT will post 5.84 EPS for the current year.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp grew its position in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after purchasing an additional 69 shares in the last quarter. CIBC Asset Management Inc grew its position in ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares in the last quarter. Round Rock Advisors LLC grew its position in ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after purchasing an additional 90 shares in the last quarter. Tectonic Advisors LLC grew its position in ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after purchasing an additional 93 shares in the last quarter. Finally, AE Wealth Management LLC boosted its stake in ITT by 5.9% in the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after acquiring an additional 100 shares during the last quarter. 91.59% of the stock is owned by 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.