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

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

Several other analysts have also issued reports on the stock. UBS Group raised their price target on shares of ITT from $168.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. KeyCorp lifted their target price on ITT from $192.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Citigroup restated 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. Cowen reiterated a “buy” rating on shares of ITT in a research report on Thursday. Finally, DA Davidson set a $190.00 price objective on ITT and gave the company a “buy” rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and an average price target of $190.89.

ITT Stock Performance

ITT opened at $181.04 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average price is $171.92 and its two-hundred day moving average price is $154.09. The firm has a market capitalization of $14.12 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 2.23 and a beta of 1.38. ITT has a 12-month low of $105.64 and a 12-month high of $185.57.

ITT (NYSE:ITT) last posted 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. The company had revenue of $972.40 million during the quarter, compared to analysts’ expectations of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.ITT’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. On average, equities analysts forecast that ITT will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.351 per share. The ex-dividend date of this dividend 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 (DPR) is presently 22.01%.

Insider Buying and Selling at ITT

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

Institutional Trading of ITT

Large investors have recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new position in shares of ITT in the second quarter valued at approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in ITT during the 2nd quarter valued at $34,000. MTM Investment Management LLC bought a new position in ITT in the 2nd quarter valued at $39,000. Clearstead Trust LLC boosted its stake in ITT by 40.0% in the second 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, NewSquare Capital LLC grew its holdings in shares of ITT by 37.2% during the second quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate’s stock worth $71,000 after purchasing an additional 123 shares during the last quarter. 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.