StockNews.com Downgrades ITT (NYSE:ITT) to Hold

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

A number of other equities research analysts have also commented on the stock. Stifel Nicolaus dropped their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, January 24th. The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Citigroup cut their target price on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, KeyCorp raised their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT Stock Down 2.2 %

NYSE:ITT opened at $146.30 on Wednesday. ITT has a 1 year low of $118.58 and a 1 year high of $161.13. The stock has a 50-day moving average price of $148.05 and a two-hundred day moving average price of $144.78. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.81 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last issued its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 17.98% and a net margin of 13.67%. As a group, equities analysts expect that ITT will post 5.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITT. Capital Performance Advisors LLP bought a new position in ITT during the third quarter worth about $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT in the third quarter valued at approximately $30,000. ORG Wealth Partners LLC bought a new position in shares of ITT during the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of ITT during the 4th quarter worth approximately $34,000. Finally, UMB Bank n.a. raised its stake in 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 acquiring an additional 180 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.