DA Davidson Trims ITT (NYSE:ITT) Target Price to $100.00

ITT (NYSE:ITTGet Rating) had its price objective lowered by DA Davidson from $110.00 to $100.00 in a note issued to investors on Tuesday, The Fly reports. DA Davidson’s price target indicates a potential upside of 53.47% from the stock’s current price.

Several other equities research analysts have also commented on ITT. Robert W. Baird dropped their price objective on shares of ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Cowen dropped their price objective on shares of ITT from $105.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, June 13th. The Goldman Sachs Group decreased their target price on shares of ITT from $109.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, April 7th. StockNews.com assumed coverage on shares of ITT in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, UBS Group raised shares of ITT from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $107.00 to $95.00 in a report on Friday, April 8th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $100.00.

Shares of ITT traded up $0.83 during trading hours on Tuesday, reaching $65.16. 1,030 shares of the company traded hands, compared to its average volume of 678,187. The company’s fifty day moving average price is $71.46 and its two-hundred day moving average price is $83.37. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.15 and a beta of 1.50. ITT has a 12 month low of $64.08 and a 12 month high of $105.54.

ITT (NYSE:ITTGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, hitting the consensus estimate of $0.97. ITT had a net margin of 10.92% and a return on equity of 15.90%. The business had revenue of $726.20 million for the quarter, compared to analyst estimates of $695.93 million. During the same quarter in the previous year, the firm posted $1.06 earnings per share. ITT’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that ITT will post 4.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITT. Signaturefd LLC boosted its position in shares of ITT by 11.1% in the fourth quarter. Signaturefd LLC now owns 1,152 shares of the conglomerate’s stock worth $118,000 after purchasing an additional 115 shares during the period. O Shares Investment Advisers LLC boosted its position in shares of ITT by 2.3% during the fourth quarter. O Shares Investment Advisers LLC now owns 6,255 shares of the conglomerate’s stock worth $639,000 after acquiring an additional 142 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of ITT by 4.6% during the first quarter. Los Angeles Capital Management LLC now owns 3,321 shares of the conglomerate’s stock worth $250,000 after acquiring an additional 147 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of ITT by 3.0% during the fourth quarter. Schroder Investment Management Group now owns 5,150 shares of the conglomerate’s stock worth $527,000 after acquiring an additional 148 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of ITT by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,430 shares of the conglomerate’s stock worth $861,000 after acquiring an additional 150 shares during the last quarter. 95.64% of the stock is owned by hedge funds and other institutional investors.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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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