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

ITT (NYSE:ITT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other research analysts have also recently issued reports on the company. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Robert W. Baird dropped their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. TD Cowen increased their price objective on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus lowered their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT Trading Up 0.0 %

ITT stock traded up $0.01 during midday trading on Tuesday, reaching $146.33. The company’s stock had a trading volume of 388,194 shares, compared to its average volume of 344,858. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 24.97, 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 debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a fifty day simple moving average of $149.10 and a two-hundred day simple moving average of $144.38.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) 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%. During the same period in the previous year, the company earned $1.37 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that ITT will post 5.84 EPS for the current year.

Institutional Trading of ITT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITT. Capital Performance Advisors LLP acquired a new stake in ITT during the 3rd quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in ITT during the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new stake in shares of ITT during the 4th quarter worth about $30,000. UMB Bank n.a. increased its stake in shares of ITT by 315.8% in the 3rd quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Finally, Quent Capital LLC boosted its position in ITT by 53.9% during the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 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.