ITT (NYSE:ITT) Sets New 12-Month High After Analyst Upgrade

Shares of ITT Inc. (NYSE:ITT) reached a new 52-week high on Thursday after UBS Group raised their price target on the stock from $135.00 to $158.00. UBS Group currently has a buy rating on the stock. ITT traded as high as $138.62 and last traded at $138.49, with a volume of 110524 shares traded. The stock had previously closed at $136.39.

ITT has been the topic of several other reports. Citigroup boosted 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. DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. KeyCorp boosted their price objective on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Finally, Stifel Nicolaus upped their price target on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT currently has an average rating of “Buy” and an average price target of $138.38.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Rise Advisors LLC raised its holdings in shares of ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after buying an additional 205 shares during the period. AdvisorNet Financial Inc boosted its holdings in ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of ITT by 81.7% during the third quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after buying an additional 250 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in ITT during the 1st quarter worth about $68,000. Finally, Bfsg LLC purchased a new position in shares of ITT in the 4th quarter valued at about $73,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The business has a fifty day simple moving average of $129.97 and a 200 day simple moving average of $119.48. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.76 and a beta of 1.43.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. As a group, equities analysts forecast that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, June 3rd. ITT’s dividend payout ratio is presently 25.10%.

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.