Robert W. Baird Issues Pessimistic Forecast for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price target decreased by Robert W. Baird from $165.00 to $163.00 in a research note released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the conglomerate’s stock.

A number of other analysts also recently issued reports on the stock. TD Cowen raised their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. KeyCorp raised their price objective on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus raised their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $156.11.

ITT Stock Down 0.9 %

ITT opened at $144.78 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The company’s 50-day moving average is $142.79 and its 200 day moving average is $136.09. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $153.99. The firm has a market capitalization of $11.83 billion, a P/E ratio of 28.39, a PEG ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The company had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. During the same period last year, the firm earned $1.37 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts expect that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a $0.319 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.88%. ITT’s payout ratio is 24.90%.

Hedge Funds Weigh In On ITT

Several large investors have recently modified their holdings of the business. Eagle Bluffs Wealth Management LLC grew its stake in ITT by 0.4% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock valued at $2,457,000 after acquiring an additional 82 shares in the last quarter. Tectonic Advisors LLC grew its stake in ITT by 3.3% during the third quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock valued at $437,000 after acquiring an additional 93 shares in the last quarter. AE Wealth Management LLC grew its stake in ITT by 5.9% during the second quarter. AE Wealth Management LLC now owns 1,802 shares of the conglomerate’s stock valued at $233,000 after acquiring an additional 100 shares in the last quarter. Quent Capital LLC grew its stake in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after acquiring an additional 103 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its stake in ITT by 4.7% during the first quarter. HBK Sorce Advisory LLC now owns 2,306 shares of the conglomerate’s stock valued at $314,000 after acquiring an additional 104 shares in 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.