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

ITT (NYSE:ITT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

A number of other brokerages also recently issued reports on ITT. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Citigroup decreased their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. TD Cowen raised their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, ITT presently has an average rating of “Moderate Buy” and a consensus price target of $168.38.

ITT Stock Performance

Shares of ITT opened at $145.38 on Thursday. The company has a market cap of $11.85 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $147.22 and a 200-day moving average price of $145.00. ITT has a 12-month low of $118.95 and a 12-month high of $161.13.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities analysts forecast that ITT will post 6.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. purchased a new position in shares of ITT during the third quarter valued at approximately $67,503,000. Allspring Global Investments Holdings LLC increased its stake 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 valued at $14,263,000 after buying an additional 30,320 shares during the period. International Assets Investment Management LLC increased its stake in shares of ITT by 16,832.5% during 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 period. Algert Global LLC increased its stake in shares of ITT by 101.2% during the third quarter. Algert Global LLC now owns 18,034 shares of the conglomerate’s stock valued at $2,696,000 after buying an additional 9,070 shares during the period. Finally, Pier 88 Investment Partners LLC increased its stake in shares of ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after buying an additional 20,270 shares during the period. 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.