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

ITT (NYSE:ITT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

ITT has been the subject of a number of other research reports. KeyCorp lifted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. 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 research note on Thursday, October 10th. Finally, Citigroup lifted their price objective on ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.75.

ITT Trading Up 0.7 %

ITT opened at $151.70 on Tuesday. The business has a 50 day simple moving average of $151.24 and a two-hundred day simple moving average of $140.79. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.99 and a beta of 1.40. 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 has a one year low of $113.70 and a one year high of $161.13.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Select Equity Group L.P. grew its stake in ITT by 11.7% in the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock worth $431,512,000 after purchasing an additional 351,206 shares in the last quarter. State Street Corp lifted its holdings in ITT by 1.1% during the third quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock worth $364,457,000 after buying an additional 26,133 shares during the period. Geode Capital Management LLC lifted its holdings in ITT by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock worth $204,736,000 after buying an additional 8,223 shares during the period. Dimensional Fund Advisors LP lifted its holdings in ITT by 5.6% during the second quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock worth $123,338,000 after buying an additional 50,329 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock worth $106,961,000 after buying an additional 3,370 shares during the period. Institutional investors own 91.59% of the company’s stock.

About ITT

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.