ITT (NYSE:ITT) Cut to Hold at StockNews.com

ITT (NYSE:ITT) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other analysts also recently weighed in on the stock. Robert W. Baird cut their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. KeyCorp boosted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. TD Cowen raised their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Trading Down 2.0 %

Shares of NYSE:ITT opened at $155.60 on Wednesday. The company has a market capitalization of $12.68 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.07 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. The business’s 50 day simple moving average is $149.49 and its 200 day simple moving average is $139.14. ITT has a 1 year low of $107.01 and a 1 year high of $161.13.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million for 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%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. On average, research analysts anticipate that ITT will post 5.84 EPS for the current fiscal year.

Hedge Funds Weigh In On ITT

Large investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of ITT by 17.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,472 shares of the conglomerate’s stock valued at $336,000 after buying an additional 363 shares during the period. Price T Rowe Associates Inc. MD increased its position in ITT by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,408 shares of the conglomerate’s stock valued at $6,313,000 after acquiring an additional 2,637 shares during the period. B. Riley Wealth Advisors Inc. increased its position in ITT by 5.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,716 shares of the conglomerate’s stock valued at $369,000 after acquiring an additional 144 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of ITT by 71.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 348 shares of the conglomerate’s stock valued at $45,000 after acquiring an additional 145 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in shares of ITT during the second quarter worth $27,000. 91.59% of the stock is currently owned by institutional investors.

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.