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

StockNews.com lowered shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Other equities research analysts have also recently issued research reports about the company. TD Cowen upped their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wolfe Research started coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating for the company. Robert W. Baird decreased 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. Stifel Nicolaus upped their target price on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Down 1.7 %

Shares of NYSE ITT opened at $149.06 on Tuesday. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.99 and a beta of 1.40. The business has a 50 day simple moving average of $151.25 and a 200 day simple moving average of $140.90. ITT has a 52 week low of $113.70 and a 52 week high of $161.13. 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 announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The business 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%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. On average, research analysts predict that ITT will post 5.84 earnings per share for the current fiscal year.

ITT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a yield of 0.86%. ITT’s dividend payout ratio (DPR) is currently 21.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new position in ITT during the third quarter worth $67,503,000. Mawer Investment Management Ltd. acquired a new position in ITT during the second quarter worth $49,043,000. Select Equity Group L.P. raised its stake in ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after acquiring an additional 351,206 shares in the last quarter. Millennium Management LLC raised its stake in ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after acquiring an additional 262,470 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in ITT by 115.6% during the second quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock worth $31,717,000 after acquiring an additional 131,708 shares in the last quarter. 91.59% of the stock is 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.