ITT (NYSE:ITT) Upgraded by StockNews.com to “Buy” Rating

ITT (NYSE:ITT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Several other brokerages have also commented on ITT. Stifel Nicolaus cut their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird reduced their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. TD Cowen increased 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. Citigroup decreased their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Wolfe Research began coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.13.

ITT Trading Up 0.0 %

ITT stock traded up $0.01 during trading on Tuesday, hitting $146.33. The company had a trading volume of 388,194 shares, compared to its average volume of 344,858. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The company’s 50 day simple moving average is $149.10 and its 200-day simple moving average is $144.38. ITT has a 1-year low of $118.58 and a 1-year high of $161.13. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. As a group, analysts expect that ITT will post 5.84 EPS for the current fiscal year.

Institutional Investors Weigh In On ITT

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake 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 acquiring an additional 26,133 shares during the last quarter. Geode Capital Management LLC raised its holdings in ITT by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after acquiring an additional 8,223 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of ITT by 4.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock worth $100,100,000 after acquiring an additional 27,885 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of ITT during the 3rd quarter valued at about $67,503,000. Finally, Millennium Management LLC increased its position in ITT by 200.4% in 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 during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.