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

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

A number of other equities research analysts also recently commented on ITT. Robert W. Baird reduced their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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. 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. Finally, 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.88.

ITT Trading Down 2.0 %

ITT stock traded down $3.11 during trading on Wednesday, reaching $155.60. 338,100 shares of the company were exchanged, compared to its average volume of 384,564. ITT has a 52-week low of $107.01 and a 52-week high of $161.13. The company has a market capitalization of $12.68 billion, a P/E ratio of 26.55, a PEG ratio of 2.07 and a beta of 1.41. 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 stock’s 50 day simple moving average is $149.15 and its two-hundred day simple moving average is $139.03.

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. ITT had a return on equity of 17.98% and a net margin of 13.67%. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter last year, the business posted $1.37 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that ITT will post 5.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp boosted its position in shares of ITT by 1.3% during the 3rd quarter. M&T Bank Corp now owns 5,334 shares of the conglomerate’s stock worth $797,000 after acquiring an additional 69 shares in the last quarter. Eagle Bluffs Wealth Management LLC boosted its position in shares of ITT by 0.4% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 18,973 shares of the conglomerate’s stock worth $2,457,000 after acquiring an additional 82 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of ITT by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock worth $360,000 after acquiring an additional 87 shares in the last quarter. Round Rock Advisors LLC boosted its position in shares of ITT by 0.4% during the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock worth $3,038,000 after acquiring an additional 90 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of ITT by 3.3% during the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after acquiring an additional 93 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

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.