ITT (NYSE:ITT) Given New $150.00 Price Target at Stifel Nicolaus

ITT (NYSE:ITT) had its price objective boosted by Stifel Nicolaus from $141.00 to $150.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

ITT has been the subject of several other reports. DA Davidson increased their price objective on ITT from $140.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, March 26th. StockNews.com lowered ITT from a strong-buy rating to a buy rating in a research report on Tuesday, February 6th. KeyCorp raised their price target on ITT from $136.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Finally, Citigroup raised their price target on ITT from $139.00 to $157.00 and gave the stock a buy rating in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $135.57.

ITT Price Performance

ITT stock opened at $125.10 on Wednesday. The business has a 50 day simple moving average of $128.15 and a 200-day simple moving average of $116.14. The firm has a market capitalization of $10.29 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.75 and a beta of 1.43. ITT has a 1 year low of $75.82 and a 1 year high of $138.29.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million during the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. On average, equities research analysts expect that ITT will post 5.79 EPS for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were paid a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. ITT’s dividend payout ratio (DPR) is currently 25.81%.

Institutional Trading of ITT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in shares of ITT during the first quarter worth about $204,000. Register Financial Advisors LLC grew its holdings in shares of ITT by 4.5% during the first quarter. Register Financial Advisors LLC now owns 3,454 shares of the conglomerate’s stock worth $470,000 after buying an additional 150 shares during the last quarter. Benson Investment Management Company Inc. grew its holdings in shares of ITT by 1.5% during the first quarter. Benson Investment Management Company Inc. now owns 38,819 shares of the conglomerate’s stock worth $5,281,000 after buying an additional 562 shares during the last quarter. Running Oak Capital LLC grew its holdings in shares of ITT by 4.6% during the first quarter. Running Oak Capital LLC now owns 91,908 shares of the conglomerate’s stock worth $12,502,000 after buying an additional 4,029 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of ITT by 8.3% during the first quarter. Park Avenue Securities LLC now owns 3,700 shares of the conglomerate’s stock worth $503,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.