ITT (NYSE:ITT) Given New $150.00 Price Target at Citigroup

ITT (NYSE:ITT) had its target price decreased by Citigroup from $181.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Citigroup’s price target suggests a potential upside of 18.22% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. KeyCorp dropped their target price on shares of ITT from $170.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus cut their price target on ITT from $179.00 to $148.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.57.

ITT Trading Up 1.1 %

Shares of ITT stock traded up $1.33 on Monday, reaching $126.88. The company had a trading volume of 895,032 shares, compared to its average volume of 428,934. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The firm has a market cap of $10.27 billion, a PE ratio of 20.14, a PEG ratio of 1.89 and a beta of 1.36. ITT has a 52-week low of $105.64 and a 52-week high of $161.13. The firm’s 50 day moving average price is $135.84 and its two-hundred day moving average price is $144.37.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Sell-side analysts predict that ITT will post 6.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new position in ITT during the 1st quarter valued at $441,000. Farther Finance Advisors LLC increased its stake in shares of ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate’s stock valued at $103,000 after acquiring an additional 331 shares during the period. UMB Bank n.a. lifted its holdings in ITT by 84.5% in the 1st quarter. UMB Bank n.a. now owns 856 shares of the conglomerate’s stock valued at $111,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth LLC boosted its stake in shares of ITT by 52.5% during the 1st quarter. Unique Wealth LLC now owns 3,850 shares of the conglomerate’s stock worth $497,000 after acquiring an additional 1,326 shares in the last quarter. Finally, Vest Financial LLC raised its holdings in shares of ITT by 36.1% during the first quarter. Vest Financial LLC now owns 23,136 shares of the conglomerate’s stock valued at $2,988,000 after acquiring an additional 6,132 shares during the period. 91.59% of the stock is 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.