ITT (NYSE:ITT) Price Target Raised to $190.00

ITT (NYSE:ITT) had its target price boosted by TD Cowen from $170.00 to $190.00 in a research report released on Thursday morning,Benzinga reports. TD Cowen currently has a buy rating on the conglomerate’s stock.

ITT has been the topic of several other research reports. Bank of America raised their price target on ITT from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Citigroup reissued a “buy” rating and set a $186.00 price target (up from $159.00) on shares of ITT in a research note on Monday, July 14th. DA Davidson set a $190.00 price objective on shares of ITT and gave the company a “buy” rating in a report on Monday, August 4th. UBS Group lifted their target price on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Finally, Stifel Nicolaus increased their price target on ITT from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.89.

ITT Price Performance

Shares of ITT stock opened at $181.04 on Thursday. ITT has a 1 year low of $105.64 and a 1 year high of $185.57. The company has a current ratio of 1.45, a quick ratio of 0.99 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $171.92 and its 200-day moving average is $154.09. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.23 and a beta of 1.38.

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

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a $0.351 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. ITT’s dividend payout ratio is currently 22.01%.

Insiders Place Their Bets

In other ITT news, CEO Luca Savi sold 36,385 shares of ITT stock in a transaction dated Thursday, August 7th. The stock was 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 in the company, valued at approximately $49,022,031.36. The trade was a 10.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On ITT

Institutional investors and hedge funds have recently modified their holdings of the business. Aaron Wealth Advisors LLC bought a new position in ITT in the third quarter valued at approximately $295,000. GAMMA Investing LLC raised its holdings in shares of ITT by 13.9% during the third quarter. GAMMA Investing LLC now owns 2,166 shares of the conglomerate’s stock worth $387,000 after acquiring an additional 265 shares during the period. Corient Private Wealth LLC lifted its position in ITT by 30.9% in the 2nd quarter. Corient Private Wealth LLC now owns 7,082 shares of the conglomerate’s stock valued at $1,111,000 after acquiring an additional 1,672 shares in the last quarter. Caldwell Trust Co bought a new stake in ITT in the 2nd quarter valued at $72,000. Finally, Osaic Holdings Inc. boosted its stake in ITT by 36.0% in the 2nd quarter. Osaic Holdings Inc. now owns 7,841 shares of the conglomerate’s stock worth $1,225,000 after purchasing an additional 2,077 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.