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

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

A number of other analysts also recently commented on ITT. Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Stifel Nicolaus boosted their price target on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. KeyCorp raised their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup reduced their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday. Finally, The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.50.

ITT Stock Up 1.3 %

ITT opened at $145.39 on Tuesday. 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 market capitalization of $11.85 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.95 and a beta of 1.41. The business has a 50 day simple moving average of $149.68 and a 200-day simple moving average of $142.86.

ITT (NYSE:ITT) last released its quarterly earnings data 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 firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. On average, equities analysts anticipate that ITT will post 5.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Institutional investors have recently made changes to their positions in the stock. Algert Global LLC purchased a new stake in ITT during the 2nd quarter worth about $1,158,000. Eagle Asset Management Inc. purchased a new position in ITT in the 3rd quarter valued at about $67,503,000. AQR Capital Management LLC boosted its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after purchasing an additional 131,708 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after buying an additional 30,320 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after buying an additional 13,971 shares during the last quarter. 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.