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

ITT (NYSE:ITT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other analysts also recently issued reports about the stock. Citigroup reduced their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird cut 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. Wolfe Research initiated coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Stock Up 0.6 %

NYSE:ITT opened at $149.00 on Wednesday. The firm’s 50-day moving average price is $148.36 and its 200-day moving average price is $144.74. The company has a market capitalization of $12.15 billion, a PE ratio of 25.43, a P/E/G ratio of 1.81 and a beta of 1.41. 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 1-year low of $118.58 and a 1-year high of $161.13.

Hedge Funds Weigh In On ITT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its stake in shares of ITT by 1.3% in the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after purchasing an additional 69 shares during the period. CIBC Asset Management Inc lifted its stake in shares of ITT by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after purchasing an additional 87 shares during the period. Round Rock Advisors LLC lifted its stake in shares of ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after purchasing an additional 90 shares during the period. Tectonic Advisors LLC lifted its stake in shares of ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after purchasing an additional 93 shares during the period. Finally, Savant Capital LLC lifted its stake in shares of ITT by 3.5% in the 4th quarter. Savant Capital LLC now owns 4,081 shares of the conglomerate’s stock worth $583,000 after purchasing an additional 137 shares during the period. Institutional investors own 91.59% of the company’s stock.

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.