ITT (NYSE:ITT) Price Target Lowered to $179.00 at Stifel Nicolaus

ITT (NYSE:ITT) had its price target reduced by stock analysts at Stifel Nicolaus from $180.00 to $179.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the conglomerate’s stock. Stifel Nicolaus’ target price points to a potential upside of 18.12% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Citigroup reduced their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen lifted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Wolfe Research began coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Price Performance

Shares of ITT stock traded down $1.67 during trading hours on Friday, reaching $151.54. The stock had a trading volume of 30,817 shares, compared to its average volume of 329,889. The stock’s 50 day moving average is $149.40 and its 200 day moving average is $143.80. The firm has a market capitalization of $12.35 billion, a PE ratio of 25.86, a PEG ratio of 1.84 and a beta of 1.41. ITT has a twelve month low of $118.58 and a twelve month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the prior year, the company earned $1.37 EPS. ITT’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that ITT will post 5.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Several institutional investors and hedge funds have recently bought and sold shares of ITT. Capital Performance Advisors LLP acquired a new stake in shares of ITT in the third quarter worth $26,000. Resources Management Corp CT ADV bought a new position in shares of ITT in the 3rd quarter worth about $30,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT in the 4th quarter worth about $30,000. UMB Bank n.a. increased its holdings in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after acquiring an additional 180 shares during the period. Finally, Quent Capital LLC increased its stake in ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock valued at $44,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds 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.