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

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

ITT has been the topic of several other reports. Stifel Nicolaus upped their target price on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.50.

ITT Price Performance

ITT stock traded up $4.09 during trading on Tuesday, reaching $143.58. The company’s stock had a trading volume of 259,050 shares, compared to its average volume of 358,481. The company’s fifty day moving average is $149.71 and its 200-day moving average is $142.76. ITT has a 1 year low of $116.59 and a 1 year high of $161.13. The company has a market capitalization of $11.70 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17.

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 net margin of 13.67% and a return on equity of 17.98%. The company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the firm earned $1.37 earnings per share. ITT’s revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that ITT will post 5.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ITT

Several institutional investors and hedge funds have recently modified their holdings of ITT. Park Avenue Securities LLC raised its holdings in ITT by 36.8% in the 4th quarter. Park Avenue Securities LLC now owns 4,302 shares of the conglomerate’s stock worth $615,000 after acquiring an additional 1,157 shares during the period. Unique Wealth LLC increased its stake in shares of ITT by 68.0% in the fourth quarter. Unique Wealth LLC now owns 2,524 shares of the conglomerate’s stock worth $361,000 after purchasing an additional 1,022 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of ITT by 2.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 47,930 shares of the conglomerate’s stock worth $6,848,000 after purchasing an additional 1,241 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of ITT during the fourth quarter worth approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in ITT by 2.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,606 shares of the conglomerate’s stock valued at $1,137,000 after purchasing an additional 216 shares during the period. 91.59% of the stock is currently 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.