ITT (NYSE:ITT) had its price target hoisted by Stifel Nicolaus from $66.00 to $69.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the conglomerate’s stock.
Several other research firms have also weighed in on ITT. Oppenheimer set a $68.00 target price on ITT and gave the company a buy rating in a report on Sunday, February 24th. UBS Group upgraded ITT from a sell rating to a neutral rating and raised their target price for the company from $48.00 to $60.00 in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded ITT from a sell rating to a hold rating in a research note on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $65.50.
NYSE ITT opened at $62.28 on Tuesday. ITT has a fifty-two week low of $44.89 and a fifty-two week high of $63.04. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.94 and a beta of 1.64.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $0.147 dividend. The ex-dividend date was Friday, March 8th. This is a positive change from ITT’s previous quarterly dividend of $0.13. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.94%. ITT’s payout ratio is presently 18.27%.
Institutional investors have recently bought and sold shares of the company. Landmark Bank increased its stake in shares of ITT by 16.3% in the fourth quarter. Landmark Bank now owns 44,433 shares of the conglomerate’s stock worth $2,145,000 after purchasing an additional 6,212 shares during the period. Prudential Financial Inc. increased its stake in shares of ITT by 35.0% in the fourth quarter. Prudential Financial Inc. now owns 376,174 shares of the conglomerate’s stock worth $18,157,000 after purchasing an additional 97,527 shares during the period. Arizona State Retirement System increased its stake in shares of ITT by 1.1% in the fourth quarter. Arizona State Retirement System now owns 62,874 shares of the conglomerate’s stock worth $3,035,000 after purchasing an additional 674 shares during the period. LS Investment Advisors LLC increased its stake in shares of ITT by 36.3% in the fourth quarter. LS Investment Advisors LLC now owns 6,564 shares of the conglomerate’s stock worth $317,000 after purchasing an additional 1,749 shares during the period. Finally, Nordea Investment Management AB grew its position in ITT by 31.4% during the third quarter. Nordea Investment Management AB now owns 75,539 shares of the conglomerate’s stock worth $4,627,000 after buying an additional 18,071 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.
ITT Company Profile
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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