Citigroup Cuts ITT (NYSE:ITT) Price Target to $181.00

ITT (NYSE:ITT) had its price target lowered by Citigroup from $183.00 to $181.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the conglomerate’s stock.

Several other research analysts have also commented on the company. 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 research report on Thursday, October 10th. TD Cowen lifted their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus increased their target price on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp lifted their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.50.

ITT Stock Up 1.3 %

Shares of NYSE:ITT opened at $145.39 on Monday. The firm has a market cap of $11.85 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The company has a fifty day simple moving average of $149.68 and a 200 day simple moving average of $142.86. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT has a 12-month low of $116.59 and a 12-month high of $161.13.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same quarter in the prior year, the business posted $1.37 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts anticipate that ITT will post 5.84 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s payout ratio is currently 21.67%.

Hedge Funds Weigh In On ITT

Several large investors have recently bought and sold shares of ITT. Capital Performance Advisors LLP bought a new position in shares of ITT in the third quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in ITT in the third quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in ITT during the 4th quarter valued at $30,000. Headlands Technologies LLC acquired a new position in shares of ITT during the 2nd quarter valued at $32,000. Finally, UMB Bank n.a. raised its stake in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.

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.