ITT (NYSE:ITT) Stock Rating Upgraded by StockNews.com

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

A number of other brokerages also recently weighed in on ITT. Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citigroup raised their price target on shares of ITT from $176.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted 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. KeyCorp raised 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, Wolfe Research initiated coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $166.75.

ITT Stock Performance

NYSE:ITT opened at $144.51 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock has a market cap of $11.78 billion, a P/E ratio of 24.66, a PEG ratio of 1.99 and a beta of 1.40. ITT has a 1-year low of $113.70 and a 1-year high of $161.13. The stock has a 50 day simple moving average of $150.19 and a 200 day simple moving average of $141.46.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share for the quarter, beating 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 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. Research analysts anticipate that ITT will post 5.84 earnings per share for the current year.

Hedge Funds Weigh In On ITT

Several hedge funds and other institutional investors have recently modified their holdings of ITT. Bank of New York Mellon Corp grew its stake in shares of ITT by 0.4% during the 2nd 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 period. Allspring Global Investments Holdings LLC lifted its stake in shares of ITT by 6.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 65,078 shares of the conglomerate’s stock worth $8,407,000 after acquiring an additional 3,699 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 during the period. Commonwealth Equity Services LLC grew its position in shares of ITT by 15.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,778 shares of the conglomerate’s stock worth $4,234,000 after buying an additional 4,269 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in ITT by 21.0% during the second quarter. Van ECK Associates Corp now owns 37,139 shares of the conglomerate’s stock valued at $4,798,000 after purchasing an additional 6,438 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

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.