StockNews.com Downgrades ITT (NYSE:ITT) to Hold

StockNews.com downgraded shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus upped their price objective on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. KeyCorp raised their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird reduced their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Stock Up 0.7 %

Shares of NYSE:ITT opened at $156.40 on Wednesday. The company has a 50 day moving average price of $149.67 and a two-hundred day moving average price of $139.26. The company has a market capitalization of $12.75 billion, a PE ratio of 26.69, a PEG ratio of 2.02 and a beta of 1.41. ITT has a 52 week low of $107.10 and a 52 week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58.

ITT (NYSE:ITT) last released its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Analysts forecast that ITT will post 5.84 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. ITT’s dividend payout ratio is currently 21.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in shares of ITT in the third quarter valued at $26,000. Lynx Investment Advisory bought a new position in shares of ITT during the second quarter worth approximately $27,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter valued at approximately $30,000. Headlands Technologies LLC bought a new stake in shares of ITT in the second quarter valued at approximately $32,000. Finally, UMB Bank n.a. boosted its stake in shares of ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after buying an additional 180 shares during the period. 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.