ITT (NYSE:ITT) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of ITT (NYSE:ITT) from a hold rating to a buy rating in a research report sent to investors on Thursday.

ITT has been the subject of a number of other research reports. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus dropped their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. KeyCorp raised their target price on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Finally, UBS Group lifted their price objective on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $168.38.

ITT Trading Up 1.7 %

ITT stock opened at $147.81 on Thursday. ITT has a one year low of $120.48 and a one year high of $161.13. The stock has a market cap of $12.05 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The stock has a 50-day moving average of $147.05 and a two-hundred day moving average of $145.02.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. On average, research analysts anticipate that ITT will post 6.33 EPS for the current fiscal year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be paid a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 20.32%.

Institutional Trading of ITT

Institutional investors have recently bought and sold shares of the business. Eagle Asset Management Inc. purchased a new position in shares of ITT during the 3rd quarter valued at approximately $67,503,000. Allspring Global Investments Holdings LLC raised its position in ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after acquiring an additional 30,320 shares during the period. International Assets Investment Management LLC lifted its holdings in ITT by 16,832.5% during the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after purchasing an additional 13,971 shares in the last quarter. Algert Global LLC grew its position in shares of ITT by 101.2% in the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after purchasing an additional 9,070 shares during the period. Finally, Pier 88 Investment Partners LLC increased its stake in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock worth $4,161,000 after purchasing an additional 20,270 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.