Robert W. Baird Lowers ITT (NYSE:ITT) Price Target to $163.00

ITT (NYSE:ITT) had its price objective trimmed by Robert W. Baird from $165.00 to $163.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the conglomerate’s stock.

ITT has been the subject of several other research reports. TD Cowen increased their price target on ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Stifel Nicolaus increased 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. The Goldman Sachs Group raised their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, KeyCorp upped 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. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $157.78.

ITT Price Performance

ITT opened at $140.53 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $142.94 and its 200 day moving average price is $136.20. ITT has a fifty-two week low of $95.53 and a fifty-two week high of $153.99. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. As a group, sell-side analysts expect that ITT will post 5.82 earnings per share for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 0.91%. The ex-dividend date of this dividend is Friday, November 29th. ITT’s dividend payout ratio is 21.67%.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in ITT. Select Equity Group L.P. increased its position in ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ITT by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares during the period. Bank of New York Mellon Corp raised its position in shares of ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after buying an additional 3,370 shares during the last quarter. Westfield Capital Management Co. LP grew its position in ITT by 12.5% during the first quarter. Westfield Capital Management Co. LP now owns 723,617 shares of the conglomerate’s stock worth $98,434,000 after buying an additional 80,652 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ITT by 73.4% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 681,839 shares of the conglomerate’s stock valued at $92,751,000 after acquiring an additional 288,671 shares during the period. 91.59% of the stock is 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.