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

ITT Inc. (NYSE:ITT) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $151.00.

A number of research firms recently issued reports on ITT. TD Cowen boosted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Stifel Nicolaus lifted their price objective on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, KeyCorp boosted their target price on ITT from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Institutional Investors Weigh In On ITT

Several large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of ITT during the 2nd quarter worth about $489,000. Point72 Asset Management L.P. raised its holdings in ITT by 160.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock valued at $13,813,000 after acquiring an additional 65,826 shares in the last quarter. Quarry LP lifted its position in ITT by 3,376.5% in the second quarter. Quarry LP now owns 591 shares of the conglomerate’s stock worth $76,000 after purchasing an additional 574 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in ITT by 16.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate’s stock valued at $230,000 after acquiring an additional 253 shares during the period. Finally, Creative Planning raised its holdings in shares of ITT by 4.6% in the 2nd quarter. Creative Planning now owns 14,029 shares of the conglomerate’s stock worth $1,812,000 after buying an additional 615 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Trading Down 1.2 %

Shares of ITT stock opened at $147.78 on Friday. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $152.21. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 1.89 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $137.28 and its two-hundred day moving average price is $133.82.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, August 1st. The conglomerate reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $905.90 million during the quarter, compared to the consensus estimate of $916.38 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. On average, analysts anticipate that ITT will post 5.84 EPS for the current year.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $0.319 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. ITT’s payout ratio is 24.90%.

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.