Brokerages Set ITT Inc (ITT) Target Price at $66.25

ITT Inc (NYSE:ITT) has earned a consensus rating of “Buy” from the ten ratings firms that are covering the firm, reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $66.25.

ITT has been the subject of a number of recent research reports. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, August 8th. UBS Group boosted their target price on ITT from $57.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, August 30th. Gordon Haskett initiated coverage on ITT in a research report on Friday, October 12th. They set a “buy” rating for the company. ValuEngine downgraded ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Oppenheimer set a $67.00 target price on ITT and gave the stock a “buy” rating in a research report on Wednesday, October 17th.

Shares of ITT stock opened at $52.67 on Monday. ITT has a one year low of $46.10 and a one year high of $63.04. The firm has a market capitalization of $4.61 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.36 and a beta of 1.73.

ITT (NYSE:ITT) last issued its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. ITT had a return on equity of 16.10% and a net margin of 7.80%. The firm had revenue of $680.60 million during the quarter, compared to the consensus estimate of $677.36 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that ITT will post 3.15 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a $0.134 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.54 dividend on an annualized basis and a yield of 1.02%. ITT’s dividend payout ratio is presently 20.85%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in ITT in the third quarter valued at about $128,000. Bessemer Group Inc. increased its holdings in ITT by 593.9% in the third quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock valued at $173,000 after purchasing an additional 2,423 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in ITT in the third quarter valued at about $176,000. Boston Private Wealth LLC bought a new stake in ITT in the third quarter valued at about $205,000. Finally, Ibex Investors LLC bought a new stake in ITT in the third quarter valued at about $205,000. Institutional investors and hedge funds own 91.17% of the company’s stock.

About ITT

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

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Analyst Recommendations for ITT (NYSE:ITT)

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