ITT (NYSE:ITT) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a report released on Tuesday morning.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their price objective 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. KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Stifel Nicolaus raised their target price on shares of ITT from $171.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. 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 report on Thursday, October 31st. Finally, Wolfe Research assumed coverage on shares of ITT in a report on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, ITT currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.50.

ITT Price Performance

Shares of ITT stock opened at $143.58 on Tuesday. ITT has a twelve month low of $116.59 and a twelve month high of $161.13. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $149.71 and a two-hundred day simple moving average of $142.76. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the previous year, the company earned $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that ITT will post 5.84 EPS for the current year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Institutional Investors Weigh In On ITT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC grew its holdings in shares of ITT by 36.8% during the 4th quarter. Park Avenue Securities LLC now owns 4,302 shares of the conglomerate’s stock valued at $615,000 after purchasing an additional 1,157 shares during the last quarter. Unique Wealth LLC grew its holdings in shares of ITT by 68.0% during the 4th quarter. Unique Wealth LLC now owns 2,524 shares of the conglomerate’s stock valued at $361,000 after purchasing an additional 1,022 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings 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 valued at $6,848,000 after purchasing an additional 1,241 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of ITT during the 4th quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of ITT by 2.9% during 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 last quarter. 91.59% of the stock is owned by 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.