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

StockNews.com downgraded shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of ITT from $171.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Citigroup dropped their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday. KeyCorp boosted their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, TD Cowen boosted their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, ITT currently has an average rating of “Moderate Buy” and a consensus target price of $166.50.

ITT Stock Up 2.9 %

NYSE:ITT opened at $143.58 on Tuesday. The firm’s 50 day simple moving average is $149.71 and its 200 day simple moving average is $142.76. 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 $116.59 and a one year high of $161.13. The company has a market cap of $11.70 billion, a PE ratio of 24.50, a P/E/G ratio of 1.95 and a beta of 1.41.

ITT (NYSE:ITT) last posted its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS 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 for the quarter, compared to the consensus estimate of $884.50 million. During the same period last year, the company earned $1.37 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that ITT will post 5.84 earnings per share for the current year.

ITT Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Select Equity Group L.P. lifted its position in shares of ITT by 11.7% during the 2nd quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate’s stock valued at $431,512,000 after acquiring an additional 351,206 shares during the period. State Street Corp increased its stake in ITT by 1.1% during the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate’s stock valued at $364,457,000 after purchasing an additional 26,133 shares in the last quarter. Geode Capital Management LLC increased its stake in ITT by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate’s stock valued at $204,736,000 after purchasing an additional 8,223 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in ITT by 5.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate’s stock valued at $123,338,000 after purchasing an additional 50,329 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in ITT by 4.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 669,519 shares of the conglomerate’s stock valued at $100,100,000 after purchasing an additional 27,885 shares in the last quarter. Institutional investors and hedge funds 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.