Brokerages Set ITT Inc. (NYSE:ITT) Price Target at $168.38

ITT Inc. (NYSE:ITT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the nine ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $168.38.

A number of research analysts have issued reports on ITT shares. Stifel Nicolaus decreased their price target on shares of ITT from $180.00 to $179.00 and set a "buy" rating for the company in a report on Friday, January 24th. KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They issued a "peer perform" rating on the stock. Citigroup decreased their target price on ITT from $183.00 to $181.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, StockNews.com upgraded shares of ITT from a "hold" rating to a "buy" rating in a report on Thursday, February 13th.

ITT Stock Up 3.6 %

Shares of ITT traded up $4.86 during midday trading on Friday, hitting $139.91. 296,590 shares of the company's stock traded hands, compared to its average volume of 387,760. ITT has a 1 year low of $121.01 and a 1 year high of $161.13. The firm's fifty day moving average is $143.61 and its 200-day moving average is $145.93. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

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

ITT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be given a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT's previous quarterly dividend of $0.32. ITT's dividend payout ratio (DPR) is currently 22.22%.

Institutional Investors Weigh In On ITT

Hedge funds have recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in ITT in the 4th quarter worth about $26,000. Resources Management Corp CT ADV acquired a new position in shares of ITT during the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC purchased a new position in shares of ITT during the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new stake in ITT in the 4th quarter valued at $34,000. Finally, Quarry LP increased its holdings in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate's stock worth $35,000 after acquiring an additional 125 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.