Stifel Nicolaus Boosts ITT (NYSE:ITT) Price Target to $150.00

ITT (NYSE:ITT) had its price target hoisted by Stifel Nicolaus from $141.00 to $150.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of several other research reports. KeyCorp lifted their price target on ITT from $136.00 to $150.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the stock a buy rating in a research note on Monday, April 8th. StockNews.com cut shares of ITT from a strong-buy rating to a buy rating in a report on Tuesday, February 6th. Finally, DA Davidson lifted their price target on shares of ITT from $140.00 to $155.00 and gave the company a buy rating in a report on Tuesday, March 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $135.57.

ITT Stock Down 0.1 %

ITT opened at $124.99 on Wednesday. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 1.71 and a beta of 1.43. ITT has a twelve month low of $75.82 and a twelve month high of $138.29. The company has a 50-day simple moving average of $128.31 and a 200 day simple moving average of $116.40.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. Sell-side analysts anticipate that ITT will post 5.79 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio (DPR) is 25.81%.

Hedge Funds Weigh In On ITT

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITT. IFP Advisors Inc grew its stake in shares of ITT by 63.4% in the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 118 shares during the last quarter. Rise Advisors LLC grew its position in shares of ITT by 788.5% in the 1st quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock valued at $31,000 after buying an additional 205 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of ITT in the third quarter valued at about $34,000. KB Financial Partners LLC bought a new position in shares of ITT during the first quarter worth about $36,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of ITT by 101.0% in the fourth quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after acquiring an additional 204 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.