ITT (NYSE:ITT) Upgraded at StockNews.com

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

A number of other brokerages have also issued reports on ITT. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They issued a “peer perform” rating on the stock. Robert W. Baird lowered their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen increased their target price on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Citigroup increased their price objective on shares of ITT from $176.00 to $183.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.75.

ITT Price Performance

NYSE:ITT opened at $144.51 on Wednesday. The firm’s fifty day moving average is $150.19 and its two-hundred day moving average is $141.46. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.99 and a beta of 1.40. ITT has a one year low of $113.70 and a one 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.

ITT (NYSE:ITT) last posted its earnings results 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. ITT had a net margin of 13.67% and a return on equity of 17.98%. The firm had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. During the same period in the previous year, the business posted $1.37 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. Research analysts expect that ITT will post 5.84 EPS for the current year.

Institutional Investors Weigh In On ITT

A number of large investors have recently bought and sold shares of ITT. Algert Global LLC purchased a new stake in shares of ITT during the second quarter worth about $1,158,000. Eagle Asset Management Inc. purchased a new position in shares of ITT during the 3rd quarter worth about $67,503,000. AQR Capital Management LLC grew its stake in shares of ITT by 115.6% during the 2nd quarter. AQR Capital Management LLC now owns 245,676 shares of the conglomerate’s stock valued at $31,717,000 after buying an additional 131,708 shares during the period. Allspring Global Investments Holdings LLC increased its stake in ITT by 46.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after acquiring an additional 30,320 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of ITT by 16,832.5% in the 3rd quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock valued at $2,101,000 after acquiring an additional 13,971 shares during the period. 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.