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

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

Other equities research analysts have also issued research reports about the company. Robert W. Baird dropped their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. KeyCorp lifted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their target price 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. Finally, Stifel Nicolaus boosted their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.88.

ITT Stock Performance

Shares of ITT opened at $155.60 on Wednesday. The firm’s 50 day moving average price is $149.49 and its two-hundred day moving average price is $139.14. 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 has a twelve month low of $107.01 and a twelve month high of $161.13. The firm has a market cap of $12.68 billion, a P/E ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41.

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

Hedge Funds Weigh In On ITT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of ITT in the third quarter valued at approximately $26,000. Lynx Investment Advisory bought a new stake in ITT in the 2nd quarter valued at $27,000. Resources Management Corp CT ADV acquired a new stake in ITT during the 3rd quarter valued at $30,000. Headlands Technologies LLC bought a new position in ITT during the second quarter worth $32,000. Finally, UMB Bank n.a. increased its holdings in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

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.