Citigroup Has Lowered Expectations for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price target cut by research analysts at Citigroup from $181.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price would indicate a potential upside of 18.22% from the company’s previous close.

ITT has been the subject of several other research reports. UBS Group raised their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. KeyCorp decreased their price objective on ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Stifel Nicolaus dropped their target price on shares of ITT from $179.00 to $148.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

ITT Trading Up 1.1 %

Shares of NYSE ITT traded up $1.33 during trading hours on Monday, hitting $126.88. The company’s stock had a trading volume of 895,032 shares, compared to its average volume of 428,934. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. ITT has a 12 month low of $105.64 and a 12 month high of $161.13. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.89 and a beta of 1.36. The business has a 50-day simple moving average of $135.84 and a 200-day simple moving average of $144.37.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. On average, analysts anticipate that ITT will post 6.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in ITT. Stifel Financial Corp lifted its position in shares of ITT by 1.0% during the third quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock worth $3,208,000 after purchasing an additional 221 shares during the last quarter. MML Investors Services LLC boosted its position in ITT by 3.0% during the third quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate’s stock valued at $758,000 after purchasing an additional 150 shares in the last quarter. M&T Bank Corp raised its stake in shares of ITT by 1.3% during the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 69 shares in the last quarter. Geode Capital Management LLC increased its stake in ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in ITT by 6.0% in the third quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock valued at $626,000 after buying an additional 225 shares during the last quarter. Hedge funds and other 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.