ITT (NYSE:ITT) Given New $150.00 Price Target at Stifel Nicolaus

ITT (NYSE:ITT) had its target price lifted by Stifel Nicolaus from $141.00 to $150.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the conglomerate’s stock.

A number of other equities analysts also recently commented on the company. KeyCorp upped their target price on ITT from $136.00 to $150.00 and gave the company an overweight rating in a report on Thursday, April 11th. Citigroup upped their price target on ITT from $139.00 to $157.00 and gave the stock a buy rating in a research note on Monday, April 8th. StockNews.com cut ITT from a strong-buy rating to a buy rating in a research note on Tuesday, February 6th. Finally, DA Davidson upped their price target on ITT from $140.00 to $155.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has a consensus rating of Buy and an average price target of $135.57.

ITT Stock Down 1.9 %

Shares of ITT stock opened at $125.10 on Wednesday. The company has a market cap of $10.29 billion, a PE ratio of 25.22, a P/E/G ratio of 1.75 and a beta of 1.43. The business has a 50 day moving average of $128.15 and a 200 day moving average of $116.14. ITT has a 52 week low of $75.82 and a 52 week high of $138.29.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $829.10 million during the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, research analysts anticipate that ITT will post 5.79 earnings per share for the current year.

ITT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.319 dividend. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 7th. ITT’s dividend payout ratio is currently 25.81%.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently modified their holdings of ITT. Select Equity Group L.P. purchased a new stake in shares of ITT in the fourth quarter worth $106,328,000. Norges Bank bought a new position in ITT in the fourth quarter valued at about $102,709,000. Renaissance Technologies LLC bought a new position in ITT in the first quarter valued at about $35,055,000. Point72 Asset Management L.P. bought a new position in ITT in the fourth quarter valued at about $29,172,000. Finally, Goldman Sachs Group Inc. lifted its holdings in ITT by 58.4% in the first quarter. Goldman Sachs Group Inc. now owns 913,985 shares of the conglomerate’s stock valued at $68,741,000 after acquiring an additional 336,860 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.