ITT (NYSE:ITT) Hits New 52-Week High at $139.25

ITT Inc. (NYSE:ITT)’s share price hit a new 52-week high on Wednesday . The company traded as high as $139.25 and last traded at $138.37, with a volume of 122489 shares. The stock had previously closed at $137.52.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup raised their price objective on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. DA Davidson upped their price target on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. KeyCorp lifted their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. UBS Group upped their target price on shares of ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $138.38.

ITT Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.81 and a beta of 1.43. The firm’s fifty day moving average is $131.52 and its 200-day moving average is $121.49.

ITT (NYSE:ITT) last issued its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 EPS. On average, sell-side analysts predict that ITT Inc. will post 5.83 earnings per share for the current year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.319 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.92%. ITT’s dividend payout ratio (DPR) is 25.10%.

Hedge Funds Weigh In On ITT

Large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of ITT by 6.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,815 shares of the conglomerate’s stock worth $374,000 after buying an additional 216 shares during the last quarter. Mackenzie Financial Corp boosted its stake in ITT by 17.4% in the third quarter. Mackenzie Financial Corp now owns 5,863 shares of the conglomerate’s stock valued at $562,000 after acquiring an additional 867 shares during the period. Advisor Partners II LLC bought a new position in shares of ITT during the third quarter valued at approximately $236,000. Park Avenue Securities LLC acquired a new stake in shares of ITT during the 3rd quarter worth approximately $337,000. Finally, Fifth Third Bancorp lifted its holdings in shares of ITT by 20.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,263 shares of the conglomerate’s stock worth $124,000 after purchasing an additional 211 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.

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.