ITT (NYSE:ITT) Rating Increased to Buy at StockNews.com

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

A number of other brokerages have also issued reports on ITT. Robert W. Baird decreased their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Wolfe Research began coverage on ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus reduced their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Finally, Citigroup dropped their price target on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT Stock Performance

NYSE:ITT opened at $151.89 on Tuesday. The stock has a 50 day simple moving average of $148.93 and a 200 day simple moving average of $144.45. The stock has a market cap of $12.38 billion, a P/E ratio of 25.92, a PEG ratio of 1.84 and a beta of 1.41. ITT has a 1-year low of $118.58 and a 1-year high of $161.13. 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 (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share 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 quarter last year, the firm earned $1.37 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that ITT will post 5.84 earnings per share for the current year.

Institutional Trading of ITT

Several large investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in shares of ITT by 4.0% in the second quarter. Bank of Montreal Can now owns 20,246 shares of the conglomerate’s stock worth $2,651,000 after acquiring an additional 780 shares during the last quarter. Squarepoint Ops LLC bought a new position in ITT in the 2nd quarter valued at approximately $2,831,000. Toronto Dominion Bank acquired a new stake in ITT in the second quarter valued at approximately $317,000. Dark Forest Capital Management LP bought a new stake in shares of ITT during the second quarter worth $214,000. Finally, Millennium Management LLC increased its holdings in shares of ITT by 200.4% during the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock worth $50,823,000 after buying an additional 262,470 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.