KeyCorp Forecasts Strong Price Appreciation for ITT (NYSE:ITT) Stock

ITT (NYSE:ITT - Free Report) had its price target increased by KeyCorp from $164.00 to $170.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the conglomerate's stock.

A number of other brokerages also recently weighed in on ITT. StockNews.com downgraded shares of ITT from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus upped their price objective 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. The Goldman Sachs Group lifted their target price on ITT from $150.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Robert W. Baird lowered their price target on ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, ITT currently has an average rating of "Moderate Buy" and a consensus target price of $167.25.

ITT Trading Up 1.6 %

ITT traded up $2.49 during mid-day trading on Tuesday, reaching $153.67. The stock had a trading volume of 287,581 shares, compared to its average volume of 373,198. The stock has a market capitalization of $12.53 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.81 and a beta of 1.41. ITT has a 52 week low of $118.58 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The firm's fifty day simple moving average is $149.38 and its two-hundred day simple moving average is $143.48.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 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 firm had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. During the same period last year, the company earned $1.37 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.319 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. ITT's dividend payout ratio (DPR) is presently 21.84%.

Hedge Funds Weigh In On ITT

A number of large investors have recently modified their holdings of the business. Running Oak Capital LLC raised its holdings in shares of ITT by 3.4% in the 4th quarter. Running Oak Capital LLC now owns 99,444 shares of the conglomerate's stock valued at $14,209,000 after purchasing an additional 3,267 shares during the period. Mutual Advisors LLC lifted its stake in shares of ITT by 11.0% during the 4th quarter. Mutual Advisors LLC now owns 2,412 shares of the conglomerate's stock worth $360,000 after buying an additional 239 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in ITT by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,000 shares of the conglomerate's stock valued at $4,429,000 after acquiring an additional 2,109 shares during the period. Simon Quick Advisors LLC lifted its holdings in ITT by 21.1% during the 4th quarter. Simon Quick Advisors LLC now owns 6,276 shares of the conglomerate's stock worth $897,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in ITT by 0.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 136,800 shares of the conglomerate's stock valued at $19,546,000 after purchasing an additional 390 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.