StockNews.com downgraded shares of ITT (NYSE:ITT - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
Several other research analysts have also recently issued reports on ITT. The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Citigroup cut their target price on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird decreased their price target on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Finally, KeyCorp lifted their target price on ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $168.38.
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ITT Stock Performance
Shares of ITT stock traded down $0.32 during trading hours on Wednesday, reaching $146.07. The company had a trading volume of 607,201 shares, compared to its average volume of 353,160. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The business has a fifty day moving average price of $147.84 and a 200-day moving average price of $144.84. ITT has a one year low of $118.58 and a one year high of $161.13. The firm has a market cap of $11.91 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.
ITT (NYSE:ITT - Get Free Report) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Sell-side analysts predict that ITT will post 6.33 earnings per share for the current fiscal year.
ITT Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 6th will be paid a $0.351 dividend. This is a boost from ITT's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, March 6th. ITT's dividend payout ratio (DPR) is presently 20.32%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ITT by 16.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate's stock valued at $230,000 after purchasing an additional 253 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in ITT in the second quarter worth $489,000. GAMMA Investing LLC lifted its position in ITT by 48.7% in the third quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate's stock worth $195,000 after buying an additional 427 shares during the last quarter. Everpar Advisors LLC purchased a new position in ITT during the third quarter worth $207,000. Finally, Fulton Bank N.A. increased its position in ITT by 25.0% during the third quarter. Fulton Bank N.A. now owns 3,242 shares of the conglomerate's stock valued at $485,000 after acquiring an additional 648 shares during the last quarter. Institutional investors own 91.59% of the company's stock.
ITT Company Profile
(
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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.
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