ITT Industries (NYSE: ITT) had its target price raised by Deutsche Bank to $31.00 in a research note issued to investors on Thursday.

“Robust 2013 guidance and favorable commentary around revenue and operational opportunities following ITT’s 4Q12 earnings reinforce our confidence toward the company’s outlook beyond 2013. In turn, we are rolling forward our valuation framework to 2014 and raising our price target to $31. Our EPS estimates for 2013 and 2014 remain unchanged.,” Deutsche Bank’s analyst wrote.

Shares of ITT Industries traded down 0.84% during mid-day trading on Thursday, hitting $25.90. ITT Industries has a one year low of $16.88 and a one year high of $26.59. The stock’s 50-day moving average is currently $25.8. The company has a market cap of $2.391 billion and a P/E ratio of 19.65.

The company also recently declared a quarterly dividend, which is scheduled for Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, March 13th. This is an increase from ITT Industries’s previous quarterly dividend of $0.09.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of ITT Industries in a research note to investors on Monday, February 18th. They now have a $28.00 price target on the stock. Analysts at Barclays Capital raised their price target on shares of ITT Industries from $24.00 to $26.00 in a research note to investors on Monday, January 14th. They now have an equal weight rating on the stock.

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