ITT Inc. (NYSE:ITT) Receives Average Rating of “Buy” from Analysts

ITT Inc. (NYSE:ITT) has received an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $138.38.

Several equities analysts have recently weighed in on ITT shares. KeyCorp raised their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. DA Davidson raised their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. UBS Group raised their price objective on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th.

ITT Price Performance

Shares of NYSE:ITT opened at $137.63 on Friday. The company has a market cap of $11.33 billion, a PE ratio of 26.99, a P/E/G ratio of 1.80 and a beta of 1.43. ITT has a fifty-two week low of $75.82 and a fifty-two week high of $140.20. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $132.65 and a 200 day simple moving average of $122.89.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that ITT will post 5.83 EPS for the current year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.93%. ITT’s payout ratio is 24.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. Rise Advisors LLC lifted its holdings in ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 205 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 shares in the last quarter. Tradewinds Capital Management LLC bought a new stake in ITT during the 1st quarter worth approximately $68,000. Clearstead Advisors LLC raised its position in ITT by 81.7% in the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after purchasing an additional 250 shares during the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in ITT in the first quarter worth $76,000. Institutional investors own 91.59% of the company’s stock.

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.