ITT (NYSE:ITT) Cut 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 report issued on Tuesday.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup increased their target price on ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their target price 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. Finally, Robert W. Baird reduced their price target on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.75.

ITT Trading Down 4.6 %

Shares of NYSE ITT opened at $142.27 on Tuesday. The stock has a market capitalization of $11.60 billion, a P/E ratio of 24.28, a PEG ratio of 1.99 and a beta of 1.40. ITT has a 1-year low of $113.70 and a 1-year high of $161.13. The business’s 50 day moving average is $151.06 and its two-hundred day moving average is $140.91. 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 (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the company earned $1.37 earnings per share. ITT’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that ITT will post 5.84 EPS for the current year.

Hedge Funds Weigh In On ITT

Institutional investors have recently bought and sold shares of the business. Select Equity Group L.P. boosted its position in ITT by 11.7% during 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 acquiring an additional 351,206 shares in the last quarter. State Street Corp boosted its position in ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Geode Capital Management LLC grew its stake in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ITT by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after buying an additional 3,370 shares during the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

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.