ITT (NYSE:ITT) Given New $179.00 Price Target at Stifel Nicolaus

ITT (NYSE:ITT) had its price objective decreased by Stifel Nicolaus from $180.00 to $179.00 in a research note released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the conglomerate’s stock.

A number of other equities analysts have also issued reports on ITT. TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp increased their price target on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday. Robert W. Baird cut their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup reduced their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Two research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Price Performance

Shares of NYSE ITT opened at $151.30 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The firm has a market capitalization of $12.33 billion, a PE ratio of 25.82, a P/E/G ratio of 1.84 and a beta of 1.41. ITT has a 1-year low of $118.58 and a 1-year high of $161.13. The business’s fifty day moving average price is $149.38 and its two-hundred day moving average price is $143.97.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. On average, research analysts expect that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.319 per share. The ex-dividend date was Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. ITT’s dividend payout ratio (DPR) is 21.84%.

Institutional Trading of ITT

A number of hedge funds and other institutional investors have recently made changes to their positions in ITT. Canada Pension Plan Investment Board grew its position in ITT by 1.1% in the second quarter. Canada Pension Plan Investment Board now owns 18,200 shares of the conglomerate’s stock worth $2,351,000 after buying an additional 200 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of ITT by 5.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock worth $233,000 after acquiring an additional 100 shares during the last quarter. Sei Investments Co. raised its position in shares of ITT by 2.8% during the second quarter. Sei Investments Co. now owns 81,477 shares of the conglomerate’s stock worth $10,526,000 after purchasing an additional 2,191 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of ITT by 46.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,912 shares of the conglomerate’s stock valued at $7,739,000 after purchasing an additional 19,123 shares during the period. Finally, Bank of Montreal Can increased its stake in ITT by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 20,246 shares of the conglomerate’s stock worth $2,651,000 after purchasing an additional 780 shares in the last quarter. 91.59% of the stock is currently owned by 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.