ITT (NYSE:ITT) Downgraded to Hold Rating by StockNews.com

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 research firms also recently issued reports on ITT. Stifel Nicolaus increased their price target on ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. KeyCorp upped their price objective on ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen increased their price target on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, ITT currently has an average rating of “Moderate Buy” and an average price target of $161.88.

ITT Trading Down 2.0 %

NYSE:ITT traded down $3.11 during midday trading on Wednesday, hitting $155.60. 338,100 shares of the company traded hands, compared to its average volume of 384,564. The firm’s fifty day moving average is $149.15 and its 200-day moving average is $139.03. The firm has a market capitalization of $12.68 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.07 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 has a 12-month low of $107.01 and a 12-month high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. During the same quarter in the prior year, the company posted $1.37 EPS. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that ITT will post 5.84 EPS for the current year.

Institutional Trading of ITT

Institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in ITT in the third quarter valued at approximately $26,000. Resources Management Corp CT ADV acquired a new stake in ITT in the third quarter valued at approximately $30,000. Lynx Investment Advisory acquired a new stake in ITT in the second quarter valued at approximately $27,000. UMB Bank n.a. grew its holdings in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock valued at $35,000 after purchasing an additional 180 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in ITT in the second quarter valued at approximately $32,000. 91.59% of the stock is 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.