Citigroup Has Lowered Expectations for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT - Get Free Report) had its price objective dropped by equities research analysts at Citigroup from $181.00 to $150.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the conglomerate's stock. Citigroup's price target would suggest a potential upside of 17.25% from the company's current price.

Several other equities research analysts have also recently issued reports on ITT. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. KeyCorp decreased their target price on ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus dropped their price target on ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, ITT currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.57.

ITT Trading Up 0.9 %

ITT stock traded up $1.15 during midday trading on Monday, reaching $127.93. The stock had a trading volume of 850,017 shares, compared to its average volume of 434,477. ITT has a 52-week low of $105.64 and a 52-week high of $161.13. The company has a fifty day moving average of $133.86 and a 200 day moving average of $143.68. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, analysts anticipate that ITT will post 6.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of ITT by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 517,307 shares of the conglomerate's stock valued at $73,913,000 after buying an additional 3,424 shares in the last quarter. Venturi Wealth Management LLC lifted its position in ITT by 880.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,156 shares of the conglomerate's stock valued at $308,000 after acquiring an additional 1,936 shares during the last quarter. AlphaQuest LLC boosted its stake in ITT by 422.7% in the fourth quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock valued at $601,000 after acquiring an additional 3,403 shares in the last quarter. ING Groep NV acquired a new stake in shares of ITT in the 4th quarter worth $1,214,000. Finally, Intech Investment Management LLC grew its stake in ITT by 218.0% during the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after buying an additional 9,633 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

ITT Company Profile

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.