UBS Group Raises ITT (NYSE:ITT) Price Target to $158.00

ITT (NYSE:ITT) had its price target increased by research analysts at UBS Group from $135.00 to $158.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. UBS Group’s price objective suggests a potential upside of 16.79% from the stock’s current price.

Several other equities analysts have also commented on ITT. Stifel Nicolaus upped their price target on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. KeyCorp increased their price objective on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, DA Davidson raised their price target on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $138.38.

ITT Trading Up 0.5 %

Shares of ITT traded up $0.66 during mid-day trading on Wednesday, reaching $135.29. The stock had a trading volume of 40,483 shares, compared to its average volume of 372,931. ITT has a 52-week low of $75.82 and a 52-week high of $138.29. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 1.76 and a beta of 1.43. The business’s fifty day moving average is $129.75 and its 200 day moving average is $119.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The business had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same quarter in the prior year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that ITT will post 5.8 EPS for the current fiscal year.

Institutional Trading of ITT

A number of large investors have recently made changes to their positions in ITT. Rise Advisors LLC grew its holdings in ITT by 788.5% during the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 205 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in 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 during the last quarter. Clearstead Advisors LLC raised its stake in ITT by 81.7% in 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 in the last quarter. Tradewinds Capital Management LLC purchased a new stake in ITT during the 1st quarter worth about $68,000. Finally, Bfsg LLC acquired a new position in shares of ITT during the 4th quarter worth about $73,000. 91.59% of the stock is currently owned by hedge funds and other 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.