KeyCorp Boosts ITT (NYSE:ITT) Price Target to $150.00

ITT (NYSE:ITT) had its target price increased by KeyCorp from $136.00 to $150.00 in a report published on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the conglomerate’s stock.

Other equities research 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. Stifel Nicolaus lifted their target price on ITT from $122.00 to $131.00 and gave the stock a buy rating in a report on Tuesday, December 19th. DA Davidson lifted their target price on ITT from $140.00 to $155.00 and gave the stock a buy rating in a report on Tuesday, March 26th. Finally, Citigroup lifted their target price on ITT from $139.00 to $157.00 and gave the stock a buy rating in a report on Monday, April 8th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $132.86.

ITT Price Performance

ITT opened at $128.74 on Thursday. The business’s 50-day moving average is $128.06 and its two-hundred day moving average is $115.67. ITT has a 1 year low of $75.82 and a 1 year high of $138.29. The firm has a market capitalization of $10.59 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43.

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

ITT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.319 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.99%. ITT’s payout ratio is presently 25.81%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rise Advisors LLC lifted its holdings in ITT by 788.5% in the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 205 shares during the period. IFP Advisors Inc lifted its holdings in ITT by 63.4% in the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 118 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in ITT in the third quarter valued at approximately $34,000. AdvisorNet Financial Inc increased its position in shares of ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after buying an additional 204 shares in the last quarter. Finally, KB Financial Partners LLC purchased a new stake in shares of ITT in the first quarter valued at approximately $36,000. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Company Profile

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.