ITT (NYSE:ITT) Price Target Raised to $150.00

ITT (NYSE:ITT) had its price objective raised by equities researchers at Stifel Nicolaus from $141.00 to $150.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 19.56% from the stock’s previous close.

Other analysts have also issued research reports about the company. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Citigroup upped their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. KeyCorp upped their target price on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, DA Davidson upped their target price on ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $135.57.

ITT Price Performance

Shares of ITT traded down $2.11 during midday trading on Wednesday, hitting $125.46. The stock had a trading volume of 196,301 shares, compared to its average volume of 355,157. The company has a 50 day simple moving average of $128.16 and a two-hundred day simple moving average of $116.08. ITT has a twelve month low of $75.82 and a twelve month high of $138.29. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 1.75 and a beta of 1.43.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.34. ITT had a return on equity of 17.91% and a net margin of 12.50%. The business had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. ITT’s revenue was up 7.0% on a year-over-year basis. Analysts forecast that ITT will post 5.79 EPS for the current fiscal year.

Institutional Trading of ITT

Large investors have recently bought and sold shares of the business. Capital International Investors grew its stake in shares of ITT by 0.3% in the 4th quarter. Capital International Investors now owns 9,414,867 shares of the conglomerate’s stock valued at $1,123,533,000 after buying an additional 29,057 shares during the period. Vanguard Group Inc. grew its stake in shares of ITT by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 8,463,809 shares of the conglomerate’s stock valued at $1,009,902,000 after buying an additional 65,173 shares during the period. FMR LLC grew its stake in shares of ITT by 1.9% in the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock valued at $742,319,000 after buying an additional 144,394 shares during the period. BlackRock Inc. boosted its stake in ITT by 1.0% during the 1st quarter. BlackRock Inc. now owns 7,156,066 shares of the conglomerate’s stock valued at $617,569,000 after purchasing an additional 68,487 shares during the last quarter. Finally, State Street Corp boosted its stake in ITT by 1.3% during the 1st quarter. State Street Corp now owns 2,291,488 shares of the conglomerate’s stock valued at $198,426,000 after purchasing an additional 29,808 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.