ITT (NYSE:ITT) Given New $200.00 Price Target at UBS Group

ITT (NYSE:ITT) had its price objective increased by analysts at UBS Group from $168.00 to $200.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. UBS Group’s price objective suggests a potential upside of 19.30% from the stock’s previous close.

Several other research analysts have also weighed in on the company. Citigroup reaffirmed a “buy” rating and set a $186.00 price target (up previously from $159.00) on shares of ITT in a research report on Monday, July 14th. Stifel Nicolaus boosted their target price on shares of ITT from $197.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, August 1st. The Goldman Sachs Group increased their price target on shares of ITT from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Bank of America boosted their price objective on shares of ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Finally, KeyCorp upped their target price on shares of ITT from $180.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.78.

ITT Stock Down 1.3%

ITT stock traded down $2.26 during mid-day trading on Tuesday, reaching $167.64. The company’s stock had a trading volume of 27,562 shares, compared to its average volume of 495,217. The business’s 50 day simple moving average is $162.99 and its 200 day simple moving average is $147.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. ITT has a 12 month low of $105.64 and a 12 month high of $174.73. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 2.10 and a beta of 1.39.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.02. ITT had a return on equity of 18.08% and a net margin of 13.99%.The company had revenue of $972.40 million during the quarter, compared to analysts’ expectations of $947.48 million. During the same quarter last year, the company earned $1.49 EPS. ITT’s revenue for the quarter was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, research analysts anticipate that ITT will post 6.51 earnings per share for the current year.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $5,994,792.60. Following the transaction, the chief executive officer directly owned 297,536 shares of the company’s stock, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ITT. Financial Gravity Companies Inc. bought a new stake in shares of ITT in the second quarter valued at approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of ITT during the 2nd quarter valued at $34,000. MTM Investment Management LLC bought a new stake in shares of ITT during the 2nd quarter valued at $39,000. Clearstead Trust LLC grew its holdings in shares of ITT by 40.0% during the 2nd quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate’s stock worth $55,000 after purchasing an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate’s stock worth $70,000 after purchasing an additional 527 shares during the period. 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.