ITT (NYSE:ITT) Rating Increased to Buy at StockNews.com

ITT (NYSE:ITT - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday.

Several other equities analysts have also recently issued reports on the company. Citigroup boosted their price target on ITT from $176.00 to $183.00 and gave the company a "buy" rating in a research report on Monday, December 9th. TD Cowen upped their price target on ITT from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. KeyCorp lifted their price objective on shares of ITT from $155.00 to $164.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Wolfe Research began coverage on shares of ITT in a research report on Wednesday, December 11th. They set a "peer perform" rating for the company. Finally, Robert W. Baird lowered their target price on shares of ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, ITT currently has a consensus rating of "Moderate Buy" and an average target price of $166.75.

ITT Stock Performance

NYSE ITT traded up $1.43 on Wednesday, reaching $144.30. The stock had a trading volume of 85,980 shares, compared to its average volume of 380,522. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The stock has a market cap of $11.76 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. The business's 50-day moving average price is $150.29 and its 200 day moving average price is $141.44. ITT has a 12-month low of $113.70 and a 12-month high of $161.13.

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

Institutional Investors Weigh In On ITT

Several institutional investors have recently modified their holdings of the company. Select Equity Group L.P. raised its holdings in ITT by 11.7% during the second quarter. Select Equity Group L.P. now owns 3,340,392 shares of the conglomerate's stock worth $431,512,000 after purchasing an additional 351,206 shares during the last quarter. State Street Corp boosted its position in shares of ITT by 1.1% in the 3rd quarter. State Street Corp now owns 2,437,674 shares of the conglomerate's stock worth $364,457,000 after buying an additional 26,133 shares in the last quarter. Geode Capital Management LLC grew its stake in ITT by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,369,021 shares of the conglomerate's stock valued at $204,736,000 after acquiring an additional 8,223 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in ITT by 5.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 954,809 shares of the conglomerate's stock valued at $123,338,000 after acquiring an additional 50,329 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 worth $106,961,000 after acquiring an additional 3,370 shares during 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.