ITT (NYSE:ITT) Price Target Lowered to $181.00 at Citigroup

ITT (NYSE:ITT - Get Free Report) had its price target decreased by equities research analysts at Citigroup from $183.00 to $181.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the conglomerate's stock. Citigroup's price target suggests a potential upside of 29.75% from the company's previous close.

A number of other research firms also recently weighed in on ITT. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating on the stock. Stifel Nicolaus upped their price target on shares of ITT from $171.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. KeyCorp increased their target price on ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, December 25th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.50.

ITT Price Performance

Shares of ITT stock traded up $0.43 on Monday, reaching $139.50. The company's stock had a trading volume of 521,475 shares, compared to its average volume of 372,696. The company has a market capitalization of $11.37 billion, a P/E ratio of 23.81, a PEG ratio of 1.95 and a beta of 1.41. ITT has a 12-month low of $116.59 and a 12-month high of $161.13. The stock's 50 day simple moving average is $149.71 and its 200-day simple moving average is $142.76. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT - Get Free Report) 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. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts predict that ITT will post 5.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ITT

Several institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC purchased a new position in ITT during the second quarter valued at $1,158,000. Eagle Asset Management Inc. bought a new position in ITT in the 3rd quarter worth $67,503,000. AQR Capital Management LLC increased its stake in ITT by 115.6% in the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate's stock worth $31,717,000 after buying an additional 131,708 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate's stock worth $14,263,000 after purchasing an additional 30,320 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in ITT by 16,832.5% in the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate's stock worth $2,101,000 after purchasing an additional 13,971 shares during the period. 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.