ITT (NYSE:ITT) Given New $165.00 Price Target at TD Cowen

ITT (NYSE:ITT) had its price objective raised by equities researchers at TD Cowen from $150.00 to $165.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the conglomerate’s stock. TD Cowen’s price target indicates a potential upside of 15.52% from the stock’s current price.

ITT has been the topic of a number of other research reports. Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp lifted their target price on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $157.78.

ITT Price Performance

ITT stock traded down $2.00 during mid-day trading on Thursday, reaching $142.83. The company had a trading volume of 120,263 shares, compared to its average volume of 383,775. The business has a fifty day simple moving average of $142.79 and a 200 day simple moving average of $136.09. The company has a market cap of $11.67 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.92 and a beta of 1.40. The company has a current ratio of 1.55, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $153.99.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. On average, equities research analysts predict that ITT will post 5.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Radnor Capital Management LLC boosted its stake in ITT by 6.6% in the third quarter. Radnor Capital Management LLC now owns 3,243 shares of the conglomerate’s stock valued at $485,000 after acquiring an additional 200 shares during the last quarter. Marks Group Wealth Management Inc grew its holdings in ITT by 1.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 64,094 shares of the conglomerate’s stock valued at $9,583,000 after buying an additional 917 shares in the last quarter. Rational Advisors LLC purchased a new position in ITT during the third quarter valued at approximately $2,572,000. Van ECK Associates Corp increased its holdings in shares of ITT by 40.0% in the third quarter. Van ECK Associates Corp now owns 51,996 shares of the conglomerate’s stock worth $7,513,000 after purchasing an additional 14,857 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in ITT by 108.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,689 shares of the conglomerate’s stock worth $6,980,000 after acquiring an additional 24,282 shares during the last quarter. Hedge funds and other institutional investors 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.