ITT (NYSE:ITT) Price Target Raised to $158.00 at UBS Group

ITT (NYSE:ITT) had its price objective boosted by equities researchers at UBS Group from $135.00 to $158.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the conglomerate’s stock. UBS Group’s price objective would suggest a potential upside of 15.05% from the company’s previous close.

ITT has been the topic of several other reports. Stifel Nicolaus upped their target price on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup increased their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. KeyCorp boosted their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Finally, DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $138.38.

ITT Price Performance

NYSE:ITT traded down $0.52 during mid-day trading on Wednesday, reaching $137.33. 67,622 shares of the stock were exchanged, compared to its average volume of 377,592. ITT has a 1-year low of $75.82 and a 1-year high of $139.19. The company has a current ratio of 1.59, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $11.30 billion, a PE ratio of 27.03, a PEG ratio of 1.76 and a beta of 1.43. The business has a fifty day moving average price of $130.20 and a 200 day moving average price of $119.60.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Research analysts expect that ITT will post 5.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Several large investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of ITT by 16.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,380 shares of the conglomerate’s stock valued at $1,257,000 after purchasing an additional 1,346 shares during the period. Jupiter Asset Management Ltd. increased its holdings in ITT by 979.6% in the first quarter. Jupiter Asset Management Ltd. now owns 61,084 shares of the conglomerate’s stock valued at $8,309,000 after purchasing an additional 55,426 shares during the last quarter. J. L. Bainbridge & Co. Inc. bought a new position in ITT during the first quarter worth about $204,000. Orion Portfolio Solutions LLC grew its position in shares of ITT by 1.5% during the 1st quarter. Orion Portfolio Solutions LLC now owns 17,312 shares of the conglomerate’s stock worth $2,355,000 after buying an additional 264 shares during the period. Finally, Blair William & Co. IL increased its stake in shares of ITT by 1.4% in the 1st quarter. Blair William & Co. IL now owns 25,064 shares of the conglomerate’s stock valued at $3,409,000 after acquiring an additional 337 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.