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

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

Several other equities analysts have also commented on the company. TD Cowen increased their price objective on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group increased their price target on shares of ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup lowered their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research began coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating on the stock. Finally, Robert W. Baird decreased their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

ITT Stock Performance

Shares of ITT opened at $147.58 on Thursday. ITT has a 12-month low of $121.01 and a 12-month high of $161.13. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. The company has a market cap of $12.03 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The stock has a 50-day moving average price of $146.88 and a 200-day moving average price of $145.06.

ITT (NYSE:ITT) last announced its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities analysts forecast that ITT will post 6.33 earnings per share for the current fiscal year.

Institutional Trading of ITT

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in ITT during the 4th quarter valued at approximately $134,433,000. Raymond James Financial Inc. bought a new position in shares of ITT during the fourth quarter valued at approximately $73,762,000. Eagle Asset Management Inc. purchased a new stake in ITT in the third quarter worth $67,503,000. T. Rowe Price Investment Management Inc. boosted its holdings in ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock valued at $133,056,000 after acquiring an additional 360,123 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in ITT during the 4th quarter valued at $27,614,000. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

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.