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

StockNews.com lowered shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research report report published on Wednesday.

ITT has been the subject of several other research reports. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup reduced their price target 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 raised 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. 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, The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Price Performance

Shares of ITT stock opened at $149.59 on Wednesday. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.81 and a beta of 1.41. The firm’s 50-day moving average price is $148.24 and its two-hundred day moving average price is $144.77. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. ITT has a 1-year low of $118.58 and a 1-year high of $161.13.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. acquired a new position in shares of ITT during the 3rd quarter worth about $67,503,000. Proficio Capital Partners LLC bought a new position in shares of ITT during the fourth quarter worth $19,345,000. TimesSquare Capital Management LLC increased its position in shares of ITT by 34.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate’s stock valued at $28,369,000 after buying an additional 50,384 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in ITT during the 3rd quarter worth $7,075,000. Finally, Polar Asset Management Partners Inc. lifted its holdings in ITT by 68.9% during the third quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after acquiring an additional 45,300 shares in the last quarter. 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.