StockNews.com Downgrades ITT (NYSE:ITT) to Hold

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 Tuesday.

Other analysts also recently issued research reports about the stock. Robert W. Baird reduced their price objective on shares of 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 boosted their price target on shares of ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup cut their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday. Finally, KeyCorp upped their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.50.

ITT Stock Performance

NYSE:ITT opened at $145.39 on Tuesday. ITT has a 12 month low of $116.59 and a 12 month high of $161.13. 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 firm has a market capitalization of $11.85 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The business’s fifty day moving average price is $149.68 and its 200 day moving average price is $142.86.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. On average, sell-side analysts anticipate that ITT will post 5.84 earnings per share for the current fiscal year.

Institutional Trading of ITT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Select Equity Group L.P. grew its stake in shares of ITT by 11.7% in the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after purchasing an additional 351,206 shares during the last quarter. State Street Corp lifted its holdings in shares of ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after purchasing an additional 26,133 shares during the period. Geode Capital Management LLC grew its position 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 buying an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after buying an additional 50,329 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after buying an additional 27,885 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other 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.