UBS Group Issues Positive Forecast for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price objective raised by analysts at UBS Group from $165.00 to $168.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. UBS Group’s target price points to a potential upside of 13.87% from the company’s previous close.

Several other brokerages also recently commented on ITT. KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research started coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ITT presently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

ITT stock traded up $1.14 during midday trading on Friday, hitting $147.53. 127,254 shares of the company traded hands, compared to its average volume of 355,907. The business has a 50 day simple moving average of $148.05 and a 200-day simple moving average of $144.78. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. ITT has a twelve month low of $118.58 and a twelve month high of $161.13. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 13.67% and a return on equity of 17.98%. As a group, equities research analysts predict that ITT will post 5.84 earnings per share for the current year.

Hedge Funds Weigh In On ITT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITT. Rialto Wealth Management LLC acquired a new stake in shares of ITT during the 4th quarter worth about $26,000. Inceptionr LLC lifted its position in ITT by 124.0% during the fourth quarter. Inceptionr LLC now owns 10,904 shares of the conglomerate’s stock worth $1,558,000 after acquiring an additional 6,037 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of ITT during the fourth quarter worth approximately $73,762,000. Proficio Capital Partners LLC acquired a new position in shares of ITT in the fourth quarter valued at approximately $19,345,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ITT by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate’s stock valued at $73,913,000 after acquiring an additional 3,424 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

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.