ITT (NYSE:ITT) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of ITT (NYSE:ITT) from a hold rating to a buy rating in a research report released on Tuesday.

Other analysts also recently issued reports about the company. KeyCorp lifted their price target on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Stifel Nicolaus decreased their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group upped their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird reduced their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, TD Cowen upped their target price 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $167.13.

ITT Price Performance

ITT stock opened at $146.33 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The business has a 50 day simple moving average of $149.10 and a 200-day simple moving average of $144.38. ITT has a 12 month low of $118.58 and a 12 month high of $161.13. The stock has a market capitalization of $11.93 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

ITT (NYSE:ITT) last released 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 company had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter last year, the business earned $1.37 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that ITT will post 5.84 earnings per share for the current year.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Asset Management Inc. acquired a new position in shares of ITT in the third quarter worth $67,503,000. Millennium Management LLC raised its stake in ITT by 200.4% in the 2nd quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after purchasing an additional 262,470 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in ITT by 160.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock valued at $13,813,000 after purchasing an additional 65,826 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of ITT during the 3rd quarter worth about $7,075,000. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of ITT by 68.9% during the third quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock worth $16,596,000 after buying an additional 45,300 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.