ITT (NYSE:ITT) Price Target Lowered to $163.00 at Robert W. Baird

ITT (NYSE:ITT) had its target price cut by Robert W. Baird from $165.00 to $163.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the conglomerate’s stock.

A number of other equities research analysts have also commented on the stock. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted their target price on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp boosted their target price on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, TD Cowen boosted their target price on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $156.11.

ITT Trading Down 0.9 %

NYSE:ITT opened at $144.78 on Wednesday. The firm’s fifty day moving average is $142.79 and its 200-day moving average is $136.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.55. ITT has a 52 week low of $91.94 and a 52 week high of $153.99. The firm has a market cap of $11.83 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last posted its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same period in the prior year, the firm posted $1.37 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that ITT will post 5.84 earnings per share for the current year.

ITT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio (DPR) is 24.90%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ITT. Mawer Investment Management Ltd. bought a new position in shares of ITT in the second quarter valued at $49,043,000. Select Equity Group L.P. lifted its stake in shares of ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after buying an additional 351,206 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of ITT by 73.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after buying an additional 288,671 shares in the last quarter. Millennium Management LLC lifted its stake in shares of ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after buying an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after purchasing an additional 131,708 shares in the last quarter. 91.59% of the stock is owned by 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.