ITT (NYSE:ITT) Price Target Raised to $177.00

ITT (NYSE:ITT) had its target price increased by The Goldman Sachs Group from $160.00 to $177.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 15.57% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus increased their price objective on shares of ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a report on Friday. Citigroup reduced their price objective on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. UBS Group lifted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, KeyCorp raised their target price on shares of ITT from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $164.86.

ITT Stock Performance

ITT stock traded up $0.25 on Monday, reaching $153.15. 208,508 shares of the company were exchanged, compared to its average volume of 451,275. The firm has a market capitalization of $12.05 billion, a PE ratio of 24.31, a PEG ratio of 1.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The stock’s fifty day moving average price is $133.49 and its 200 day moving average price is $142.71. ITT has a 12 month low of $105.64 and a 12 month high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. The firm had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, research analysts anticipate that ITT will post 6.51 EPS for the current fiscal year.

Institutional Investors Weigh In On ITT

Several large investors have recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new position in ITT during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in ITT during the 4th quarter valued at about $34,000. Quarry LP grew its holdings in ITT by 101.6% during the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after buying an additional 125 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in ITT by 79.1% during the 4th quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after buying an additional 182 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in ITT during the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.