ITT (NYSE:ITT) Earns Peer Perform Rating from Analysts at Wolfe Research

Equities researchers at Wolfe Research began coverage on shares of ITT (NYSE:ITT) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “peer perform” rating on the conglomerate’s stock.

ITT has been the topic of several other reports. The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Stifel Nicolaus raised their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird reduced their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, ITT presently has an average rating of “Moderate Buy” and an average target price of $166.75.

ITT Price Performance

NYSE ITT opened at $152.16 on Wednesday. The stock has a 50-day simple moving average of $151.13 and a 200 day simple moving average of $140.43. ITT has a twelve month low of $111.96 and a twelve month high of $161.13. The stock has a market capitalization of $12.40 billion, a PE ratio of 25.97, a P/E/G ratio of 2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

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

Institutional Trading of ITT

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its position in ITT by 69.1% in the 2nd quarter. CWM LLC now owns 1,331 shares of the conglomerate’s stock valued at $172,000 after acquiring an additional 544 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in ITT by 3.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,313 shares of the conglomerate’s stock worth $1,074,000 after buying an additional 266 shares in the last quarter. Blue Trust Inc. boosted its position in ITT by 38.7% in the 2nd quarter. Blue Trust Inc. now owns 423 shares of the conglomerate’s stock valued at $58,000 after buying an additional 118 shares during the last quarter. Raymond James & Associates increased its stake in shares of ITT by 1.6% in the 2nd quarter. Raymond James & Associates now owns 67,473 shares of the conglomerate’s stock valued at $8,716,000 after buying an additional 1,036 shares during the period. Finally, Leeward Investments LLC MA raised its position in shares of ITT by 5.6% during the second quarter. Leeward Investments LLC MA now owns 196,174 shares of the conglomerate’s stock worth $25,342,000 after acquiring an additional 10,485 shares during the last quarter. 91.59% of the stock is currently 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.