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

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

Several other brokerages have also issued reports on ITT. Stifel Nicolaus dropped their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. The Goldman Sachs Group raised their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup cut their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird decreased their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp upped their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.13.

ITT Stock Up 0.5 %

Shares of ITT opened at $147.27 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.58 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $149.00 and a 200 day moving average of $144.40. The company has a market cap of $12.00 billion, a PE ratio of 25.13, a P/E/G ratio of 1.84 and a beta of 1.41. ITT has a 52-week low of $118.58 and a 52-week high of $161.13.

ITT (NYSE:ITT) last released its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (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 analyst estimates of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. On average, sell-side analysts expect that ITT will post 5.84 EPS for the current year.

Institutional Investors Weigh In On ITT

Several large investors have recently modified their holdings of ITT. M&T Bank Corp lifted its stake 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 purchasing an additional 69 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of ITT by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,409 shares of the conglomerate’s stock valued at $360,000 after buying an additional 87 shares during the last quarter. Round Rock Advisors LLC boosted its holdings in shares of ITT by 0.4% in the 3rd quarter. Round Rock Advisors LLC now owns 20,319 shares of the conglomerate’s stock valued at $3,038,000 after buying an additional 90 shares in the last quarter. Tectonic Advisors LLC grew its position in shares of ITT by 3.3% in the 3rd quarter. Tectonic Advisors LLC now owns 2,925 shares of the conglomerate’s stock worth $437,000 after buying an additional 93 shares during the last quarter. Finally, Quent Capital LLC raised its stake in shares of ITT by 53.9% during the 3rd quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after acquiring an additional 103 shares in the last quarter. 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.