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

ITT (NYSE:ITT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. KeyCorp increased their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. TD Cowen lifted 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. Stifel Nicolaus increased their target price on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.88.

ITT Stock Performance

Shares of ITT opened at $155.72 on Friday. 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 has a 52-week low of $110.70 and a 52-week high of $161.13. The stock has a 50 day moving average price of $150.71 and a 200 day moving average price of $140.02. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.05 and a beta of 1.40.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of ITT by 12.4% in the third quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate’s stock worth $970,000 after acquiring an additional 716 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ITT during the 3rd quarter worth about $64,000. Sanctuary Advisors LLC raised its stake in ITT by 6.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock valued at $626,000 after purchasing an additional 225 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Finally, Resources Management Corp CT ADV acquired a new stake in shares of ITT during the 3rd quarter worth about $30,000. 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.