ITT (NYSE:ITT) PT Raised to $164.00 at KeyCorp

by · The Markets Daily

ITT (NYSE:ITT – Free Report) had its price objective lifted by KeyCorp from $155.00 to $164.00 in a research report report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the conglomerate’s stock.

Other analysts have also issued reports about the company. Stifel Nicolaus increased their price objective on ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. TD Cowen increased their price objective on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group increased their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT currently has an average rating of “Buy” and a consensus target price of $155.25.

Check Out Our Latest Stock Report on ITT

ITT Stock Performance

Shares of ITT stock opened at $150.30 on Monday. The stock has a market cap of $12.37 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40. The business has a fifty day simple moving average of $140.44 and a 200-day simple moving average of $135.08. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. ITT has a 12 month low of $91.94 and a 12 month high of $153.99.

ITT (NYSE:ITT – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business had revenue of $905.90 million during the quarter, compared to analyst estimates of $916.38 million. During the same period last year, the company earned $1.33 earnings per share. ITT’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that ITT will post 5.84 EPS for the current fiscal year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.319 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.85%. ITT’s payout ratio is presently 24.90%.

Hedge Funds Weigh In On ITT

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of 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 during the period. Select Equity Group L.P. increased its stake in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ITT by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after purchasing an additional 3,370 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of ITT by 12.5% in the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock worth $98,434,000 after purchasing an additional 80,652 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Company Profile

(Get Free Report)

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.

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