ITT (NYSE:ITT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research note published on Wednesday morning.

Other research analysts have also recently issued reports about the company. TD Cowen upped their price objective 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 upped their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup reduced their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus reduced their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Finally, KeyCorp upped their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Down 0.2 %

NYSE:ITT opened at $146.07 on Wednesday. ITT has a 52 week low of $118.58 and a 52 week high of $161.13. The stock’s fifty day moving average is $147.84 and its two-hundred day moving average is $144.82. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 13.67% and a return on equity of 17.98%. Research analysts anticipate that ITT will post 5.84 EPS for the current year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio is 22.22%.

Hedge Funds Weigh In On ITT

Several institutional investors have recently bought and sold shares of ITT. Capital Performance Advisors LLP purchased a new position in ITT during the third quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of ITT during the 4th quarter worth approximately $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the 3rd quarter valued at approximately $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT in the fourth quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC acquired a new position in ITT during the fourth quarter worth $34,000. 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.