ITT (NYSE:ITT) Price Target Cut to $150.00 by Analysts at KeyCorp

ITT (NYSE:ITT) had its target price reduced by KeyCorp from $170.00 to $150.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the conglomerate’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup dropped their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Stifel Nicolaus dropped their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.43.

ITT Stock Down 2.4 %

NYSE:ITT opened at $122.37 on Tuesday. 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 $9.96 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.89 and a beta of 1.36. ITT has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The firm has a 50-day simple moving average of $136.31 and a two-hundred day simple moving average of $144.57.

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

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 6th were paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Investors Weigh In On ITT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP grew its holdings in ITT by 7.5% during the third quarter. Quantinno Capital Management LP now owns 19,102 shares of the conglomerate’s stock valued at $2,856,000 after purchasing an additional 1,331 shares during the period. Stifel Financial Corp grew its stake in shares of ITT by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock valued at $3,208,000 after acquiring an additional 221 shares during the period. State Street Corp increased its holdings in ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after acquiring an additional 26,133 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in ITT during the 3rd quarter worth approximately $371,000. Finally, MML Investors Services LLC lifted its holdings in ITT by 3.0% during the third quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate’s stock valued at $758,000 after purchasing an additional 150 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

ITT Company Profile

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.