ITT (NYSE:ITT) Price Target Raised to $215.00 at KeyCorp

ITT (NYSE:ITT) had its price objective raised by KeyCorp from $200.00 to $215.00 in a report published on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the conglomerate’s stock.

Other equities research analysts also recently issued research reports about the company. Citigroup reissued a “buy” rating on shares of ITT in a report on Thursday, October 9th. Cowen reissued a “buy” rating on shares of ITT in a report on Thursday, October 2nd. Bank of America lifted their target price on ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Stifel Nicolaus lifted their target price on ITT from $202.00 to $203.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ITT in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, ITT has an average rating of “Moderate Buy” and an average price target of $201.25.

ITT Trading Down 4.1%

Shares of ITT stock opened at $187.42 on Thursday. The business has a fifty day simple moving average of $175.94 and a two-hundred day simple moving average of $160.60. ITT has a 1 year low of $105.64 and a 1 year high of $197.07. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 2.42 and a beta of 1.38. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.99.

ITT (NYSE:ITT) last announced its quarterly earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The business had revenue of $999.10 million during the quarter, compared to the consensus estimate of $973.69 million. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Research analysts forecast that ITT will post 6.51 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a $0.351 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.7%. ITT’s dividend payout ratio (DPR) is presently 22.01%.

Insider Activity at ITT

In related news, CEO Luca Savi sold 36,385 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the transaction, the chief executive officer owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ITT. Financial Gravity Companies Inc. bought a new position in shares of ITT in the second quarter worth $27,000. True Wealth Design LLC raised its stake in ITT by 219.2% during the third quarter. True Wealth Design LLC now owns 166 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 114 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in ITT during the second quarter worth about $34,000. Quent Capital LLC acquired a new position in ITT during the third quarter worth about $37,000. Finally, MTM Investment Management LLC acquired a new position in ITT during the second quarter worth about $39,000. Institutional investors own 91.59% of the company’s stock.

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.