Baird Maintains Outperform Rating for ITT: Here's What You Need To Know

Baird has decided to maintain its Outperform rating of ITT ITT and raise its price target from $92.00 to $100.00.

Shares of ITT are trading up 2.26% over the last 24 hours, at $90.48 per share.

A move to $100.00 would account for a 10.52% increase from the current share price.

About ITT

ITT is a diversified industrial conglomerate with nearly $3 billion in sales. After the spinoffs of Xylem and Exelis in 2011, the company's products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches. Its customers include original-equipment and Tier 1 manufacturers as well as aftermarket customers. ITT uses a network of approximately 700 independent distributors, which accounts for about one third of overall revenue. Nearly three fourths of the company's sales are made in North America and Europe. ITT's primary end markets include automotive, rail, oil and gas, aerospace and defense, chemical, mining, and general industrial.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.