ITT (NYSE:ITT) Reaches New 12-Month High – Still a Buy?

Shares of ITT Inc. (NYSE:ITT) reached a new 52-week high during trading on Thursday . The stock traded as high as $155.61 and last traded at $155.39, with a volume of 71887 shares changing hands. The stock had previously closed at $152.20.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus lifted their target price on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen raised 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, 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 research note on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT has a consensus rating of “Buy” and a consensus target price of $161.88.

ITT Stock Up 2.1 %

The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.98 and a beta of 1.41. The business’s fifty day moving average is $147.38 and its two-hundred day moving average is $138.38.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $884.50 million. During the same period in the prior year, the firm posted $1.37 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that ITT Inc. will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio (DPR) is 21.84%.

Institutional Trading of ITT

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares during the period. Resources Management Corp CT ADV purchased a new position in ITT during the 3rd quarter valued at about $30,000. M&T Bank Corp increased its holdings in ITT by 1.3% during the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock valued at $797,000 after acquiring an additional 69 shares in the last quarter. MML Investors Services LLC increased its holdings in ITT by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 5,070 shares of the conglomerate’s stock valued at $758,000 after acquiring an additional 150 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in ITT during the 3rd quarter valued at about $371,000. 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.