ITT (NYSE:ITT) Rating Lowered to Hold at StockNews.com

ITT (NYSE:ITT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other equities analysts have also commented on the company. Robert W. Baird cut their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. TD Cowen boosted their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.50.

ITT Trading Up 2.9 %

Shares of ITT stock traded up $4.09 during trading hours on Tuesday, hitting $143.58. The company’s stock had a trading volume of 259,050 shares, compared to its average volume of 358,481. The company has a market capitalization of $11.70 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. ITT has a 12 month low of $116.59 and a 12 month high of $161.13. The stock has a 50 day moving average of $149.71 and a 200 day moving average of $142.76.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts predict that ITT will post 5.84 earnings per share for the current year.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of ITT in the 3rd quarter valued at approximately $26,000. Resources Management Corp CT ADV purchased a new position in shares of ITT in the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT in the fourth quarter valued at about $30,000. UMB Bank n.a. grew its holdings in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in ITT during the 2nd quarter worth about $32,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.