TD Cowen Raises ITT (NYSE:ITT) Price Target to $165.00

ITT (NYSE:ITT) had its price target lifted by TD Cowen from $150.00 to $165.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird reduced their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus upped their target price on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, KeyCorp lifted their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $157.78.

ITT Stock Performance

ITT opened at $140.53 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.10. The business has a fifty day simple moving average of $142.94 and a 200 day simple moving average of $136.20. ITT has a 1 year low of $95.53 and a 1 year high of $153.99. The company has a market capitalization of $11.45 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same period last year, the firm earned $1.37 earnings per share. ITT’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts expect that ITT will post 5.82 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. ITT’s dividend payout ratio is currently 21.84%.

Institutional Trading of ITT

Several large investors have recently made changes to their positions in the company. Select Equity Group L.P. boosted its holdings in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp grew its position in ITT by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after purchasing an additional 3,370 shares during the period. Westfield Capital Management Co. LP grew its position in ITT by 12.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock valued at $98,434,000 after purchasing an additional 80,652 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ITT by 73.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after purchasing an additional 288,671 shares in 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.