ITT (NYSE:ITT) Sets New 52-Week Low – What’s Next?

ITT Inc. (NYSE:ITT)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $120.98 and last traded at $122.22, with a volume of 202251 shares trading hands. The stock had previously closed at $133.44.

Wall Street Analyst Weigh In

ITT has been the subject of several recent research reports. UBS Group increased their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wolfe Research initiated coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Citigroup decreased their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.29.

ITT Trading Down 5.5 %

The firm has a market cap of $9.20 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The business’s 50 day moving average is $139.91 and its 200-day moving average is $145.63. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 6th were issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. ITT’s payout ratio is currently 22.22%.

Institutional Trading of ITT

Institutional investors and hedge funds have recently modified their holdings of the business. Townsquare Capital LLC boosted its stake in ITT by 21.1% in the third quarter. Townsquare Capital LLC now owns 2,177 shares of the conglomerate’s stock valued at $325,000 after acquiring an additional 380 shares during the period. Captrust Financial Advisors boosted its position in ITT by 5.7% during the 3rd quarter. Captrust Financial Advisors now owns 12,293 shares of the conglomerate’s stock valued at $1,838,000 after purchasing an additional 665 shares during the period. Quantinno Capital Management LP grew its stake in ITT by 7.5% during the 3rd quarter. Quantinno Capital Management LP now owns 19,102 shares of the conglomerate’s stock worth $2,856,000 after buying an additional 1,331 shares during the last quarter. Stifel Financial Corp grew its stake in ITT by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 21,455 shares of the conglomerate’s stock worth $3,208,000 after buying an additional 221 shares during the last quarter. Finally, State Street Corp increased its position in ITT by 1.1% in the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 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.