KeyCorp Forecasts Strong Price Appreciation for ITT (NYSE:ITT) Stock

ITT (NYSE:ITT) had its target price lifted by investment analysts at KeyCorp from $164.00 to $170.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the conglomerate’s stock. KeyCorp’s price objective indicates a potential upside of 11.03% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup lowered their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen upped their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.25.

ITT Stock Up 1.3 %

Shares of NYSE ITT traded up $1.94 during mid-day trading on Tuesday, hitting $153.12. 29,367 shares of the stock traded hands, compared to its average volume of 351,293. The stock has a fifty day moving average price of $149.38 and a 200-day moving average price of $143.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market cap of $12.48 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.81 and a beta of 1.41. ITT has a 52 week low of $118.58 and a 52 week high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the company posted $1.37 EPS. ITT’s revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that ITT will post 5.84 EPS for the current year.

Institutional Investors Weigh In On ITT

Large investors have recently bought and sold shares of the business. Eagle Asset Management Inc. bought a new position in ITT in the third quarter worth approximately $67,503,000. Select Equity Group L.P. lifted its stake in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares during the period. Millennium Management LLC grew its holdings in ITT by 200.4% during the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in ITT during the second quarter valued at about $9,936,000. Institutional investors own 91.59% of the company’s stock.

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.