Citigroup Has Lowered Expectations for ITT (NYSE:ITT) Stock Price

ITT (NYSE:ITT) had its price target dropped by stock analysts at Citigroup from $183.00 to $181.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the conglomerate’s stock. Citigroup’s target price suggests a potential upside of 30.60% from the company’s current price.

ITT has been the topic of several other research reports. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. KeyCorp boosted their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus boosted their target price on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group upped 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. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.50.

ITT Stock Down 0.3 %

Shares of NYSE ITT traded down $0.48 during trading hours on Monday, hitting $138.59. 92,916 shares of the stock were exchanged, compared to its average volume of 310,998. 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 company has a market cap of $11.30 billion, a PE ratio of 23.65, a PEG ratio of 1.95 and a beta of 1.41. The firm has a fifty day moving average price of $149.75 and a 200-day moving average price of $142.67. ITT has a 12 month low of $116.59 and a 12 month high of $161.13.

ITT (NYSE:ITT) last released 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 company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, sell-side analysts expect that ITT will post 5.84 EPS for the current year.

Hedge Funds Weigh In On ITT

Several large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in ITT during the third quarter worth $26,000. Resources Management Corp CT ADV acquired a new position in ITT during the third quarter worth $30,000. ORG Wealth Partners LLC acquired a new position in ITT during the fourth quarter worth $30,000. UMB Bank n.a. raised its position in ITT by 315.8% during the third 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, Headlands Technologies LLC acquired a new position in ITT during the second quarter worth $32,000. 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.