ITT (NYSE:ITT) Given New $168.00 Price Target at UBS Group

ITT (NYSE:ITT) had its target price boosted by UBS Group from $165.00 to $168.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

ITT has been the topic of several other research reports. The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, Robert W. Baird decreased their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

Shares of ITT stock opened at $146.07 on Friday. The stock has a market capitalization of $11.91 billion, a PE ratio of 23.19, a PEG ratio of 1.80 and a beta of 1.41. The business’s 50 day simple moving average is $147.84 and its 200 day simple moving average is $144.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 1.09. ITT has a one year low of $118.58 and a one year high of $161.13.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, research analysts forecast that ITT will post 6.33 earnings per share for the current year.

ITT Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from ITT’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. ITT’s payout ratio is presently 20.32%.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently modified their holdings of ITT. Sanctuary Advisors LLC bought a new position in ITT in the 2nd quarter valued at $489,000. GAMMA Investing LLC boosted its stake in ITT by 48.7% during the third quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock valued at $195,000 after buying an additional 427 shares during the period. CWM LLC grew its position in ITT by 191.4% during the third quarter. CWM LLC now owns 3,879 shares of the conglomerate’s stock worth $580,000 after buying an additional 2,548 shares in the last quarter. UMB Bank n.a. increased its stake in ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the last quarter. Finally, Covea Finance raised its holdings in shares of ITT by 18.7% in the 3rd quarter. Covea Finance now owns 254,800 shares of the conglomerate’s stock valued at $38,095,000 after acquiring an additional 40,200 shares in the last quarter. 91.59% of the stock is currently owned by 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.