ITT Inc. (NYSE:ITT) Stock Has Average Price Target of $258.78

ITT Inc. (NYSE:ITT) has received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $258.78.

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of ITT from $256.00 to $259.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings upgraded ITT from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $273.00 price target on shares of ITT in a report on Friday, August 7th. KeyCorp lifted their price objective on ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Wolfe Research assumed coverage on ITT in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 price objective on the stock.

Insider Activity at ITT

In related news, CAO Graziano De sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $214.01, for a total value of $107,005.00. Following the completion of the sale, the chief accounting officer owned 6,659 shares of the company’s stock, valued at $1,425,092.59. This trade represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Luca Savi acquired 5,019 shares of ITT stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $199.56 per share, for a total transaction of $1,001,591.64. Following the acquisition, the chief executive officer owned 267,373 shares in the company, valued at approximately $53,356,955.88. This represents a 1.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ITT

Several hedge funds have recently added to or reduced their stakes in ITT. Pension & Wealth Management Advisors Inc. bought a new stake in ITT during the 3rd quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of ITT in the 2nd quarter valued at about $28,000. IFG Advisory LLC boosted its stake in shares of ITT by 613.6% in the 3rd quarter. IFG Advisory LLC now owns 157 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 135 shares during the last quarter. Trust Co. of Vermont bought a new position in shares of ITT in the 2nd quarter valued at about $33,000. Finally, Jacobi Capital Management LLC acquired a new stake in shares of ITT during the 3rd quarter worth approximately $35,000. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

ITT stock opened at $211.11 on Wednesday. The firm has a market capitalization of $18.83 billion, a P/E ratio of 43.44, a P/E/G ratio of 1.52 and a beta of 1.25. The stock has a fifty day moving average price of $202.59 and a two-hundred day moving average price of $200.12. ITT has a 52-week low of $166.96 and a 52-week high of $230.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.29 and a quick ratio of 0.85.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.18. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. ITT had a net margin of 8.07% and a return on equity of 15.47%. The firm’s quarterly revenue was up 44.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, analysts anticipate that ITT will post 8.60 EPS for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 4th will be given a dividend of $0.3860 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, December 4th. ITT’s dividend payout ratio is presently 31.69%.

About ITT

ITT Inc. is a global manufacturer of engineered components and technology serving industrial, transportation, aerospace and defense, and energy markets. Its products include pumps and valves, brake pads and shock absorbers, and specialized connectors and control components. The company operates through three main businesses: Motion Technologies, Industrial Process, and Connect & Control Technologies. These businesses provide products and services used in applications ranging from automotive braking systems and industrial fluid handling to aerospace equipment and energy infrastructure.