ITT (NYSE:ITT) Downgraded by StockNews.com to “Hold”

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

A number of other brokerages have also recently issued reports on ITT. Stifel Nicolaus upped their price objective on ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating on the stock. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. KeyCorp increased their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup increased their price target on ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Stock Up 0.7 %

Shares of NYSE:ITT opened at $151.70 on Tuesday. 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. The company’s fifty day moving average is $151.24 and its 200-day moving average is $140.79. The company has a market capitalization of $12.36 billion, a PE ratio of 25.89, a P/E/G ratio of 1.99 and a beta of 1.40.

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

Hedge Funds Weigh In On ITT

A number of institutional investors have recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP purchased a new position in shares of ITT in the 3rd quarter worth about $26,000. Resources Management Corp CT ADV purchased a new position in shares of ITT in the 3rd quarter worth about $30,000. Headlands Technologies LLC purchased a new stake in ITT during the 2nd quarter valued at about $32,000. UMB Bank n.a. boosted its holdings in ITT by 315.8% during the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 180 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter valued at about $36,000. 91.59% of the stock is currently owned by institutional investors.

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.