StockNews.com Upgrades ITT (NYSE:ITT) to Buy

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

Other analysts have also issued research reports about the stock. Citigroup upped their target price on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They set a “peer perform” rating on the stock. KeyCorp upped their target price on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.75.

ITT Trading Up 1.0 %

NYSE:ITT opened at $144.30 on Wednesday. ITT has a one year low of $113.70 and a one year high of $161.13. The company has a market cap of $11.76 billion, a PE ratio of 24.62, a PEG ratio of 1.99 and a beta of 1.40. 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 firm has a 50-day moving average of $150.41 and a 200-day moving average of $141.42.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 earnings per share. As a group, equities research analysts expect that ITT will post 5.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in ITT by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 828,000 shares of the conglomerate’s stock valued at $106,961,000 after purchasing an additional 3,370 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in ITT by 6.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,078 shares of the conglomerate’s stock worth $8,407,000 after buying an additional 3,699 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ITT by 12.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,502 shares of the conglomerate’s stock valued at $2,519,000 after buying an additional 2,229 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in ITT by 15.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,778 shares of the conglomerate’s stock valued at $4,234,000 after acquiring an additional 4,269 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of ITT by 21.0% during the second quarter. Van ECK Associates Corp now owns 37,139 shares of the conglomerate’s stock worth $4,798,000 after acquiring an additional 6,438 shares in the last quarter. Hedge funds and other institutional investors 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.