ITT Inc. (NYSE:ITT) Receives Average Rating of "Buy" from Analysts

ITT Inc. (NYSE:ITT - Get Free Report) has received an average rating of "Buy" from the eight ratings firms that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $161.88.

Several analysts recently issued reports on ITT shares. KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Stifel Nicolaus increased their target price on ITT from $157.00 to $167.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. TD Cowen upped their price target on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Robert W. Baird dropped their price target on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock worth $204,736,000 after buying an additional 8,223 shares during the period. Resources Management Corp CT ADV bought a new stake in shares of ITT during the third quarter valued at about $30,000. M&T Bank Corp grew its position in ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate's stock valued at $797,000 after buying an additional 69 shares in the last quarter. MML Investors Services LLC raised its position in shares of ITT by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate's stock worth $758,000 after buying an additional 150 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of ITT in the third quarter valued at approximately $371,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Trading Up 0.6 %

ITT stock traded up $0.94 during trading on Friday, reaching $152.60. 458,994 shares of the stock traded hands, compared to its average volume of 385,350. The firm has a market capitalization of $12.44 billion, a PE ratio of 26.04, a P/E/G ratio of 1.99 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The business's 50 day moving average price is $146.09 and its 200-day moving average price is $137.84. ITT has a 52-week low of $107.01 and a 52-week high of $155.52.

ITT (NYSE:ITT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business had revenue of $885.20 million during the quarter, compared to analysts' expectations of $884.50 million. During the same quarter in the previous year, the business earned $1.37 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 29th. ITT's payout ratio is 21.84%.

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.