ITT (NYSE:ITT) PT Lowered to $100.00 at DA Davidson

ITT (NYSE:ITT – Get Rating) had its price target trimmed by DA Davidson from $110.00 to $100.00 in a research note released on Tuesday, The Fly reports. They currently have a buy rating on the conglomerate’s stock.

A number of other equities analysts have also weighed in on the company. Cowen decreased their target price on ITT from $105.00 to $92.00 and set an outperform rating for the company in a research report on Monday, June 13th. StockNews.com initiated coverage on ITT in a research report on Thursday, March 31st. They issued a hold rating for the company. Cowen reduced their target price on shares of ITT from $105.00 to $92.00 in a report on Monday, June 13th. Robert W. Baird dropped their price target on ITT from $90.00 to $84.00 in a research note on Wednesday, May 4th. Finally, KeyCorp lowered their target price on ITT from $113.00 to $100.00 in a research report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $100.00.

Shares of ITT stock opened at $66.49 on Tuesday. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.18 and a beta of 1.50. The firm’s 50-day moving average is $71.14 and its 200 day moving average is $82.91. ITT has a 1 year low of $64.08 and a 1 year high of $105.54.

ITT (NYSE:ITT – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $726.20 million for the quarter, compared to analysts’ expectations of $695.93 million. ITT had a net margin of 10.92% and a return on equity of 15.90%. ITT’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 EPS. Research analysts anticipate that ITT will post 4.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Investors of record on Friday, June 17th will be given a dividend of $0.264 per share. This represents a $1.06 annualized dividend and a yield of 1.59%. The ex-dividend date is Thursday, June 16th. ITT’s dividend payout ratio is currently 29.94%.

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of ITT in the first quarter valued at approximately $26,000. National Bank of Canada FI acquired a new position in ITT during the fourth quarter worth $28,000. Parkside Investments LLC acquired a new position in shares of ITT in the 1st quarter valued at $37,000. CWM LLC acquired a new position in shares of ITT in the 4th quarter valued at $38,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of ITT in the 4th quarter valued at $63,000. Institutional investors own 95.64% of the company’s stock.

About ITT (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

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