ITT (NYSE:ITT) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other brokerages also recently weighed in on ITT. TD Cowen increased their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on ITT from $171.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp boosted their target price on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wolfe Research assumed coverage on shares of ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $166.75.

ITT Price Performance

NYSE ITT opened at $142.53 on Tuesday. ITT has a 1 year low of $113.70 and a 1 year high of $161.13. The company has a fifty day simple moving average of $150.93 and a 200 day simple moving average of $140.92. 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 company has a market cap of $11.62 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.99 and a beta of 1.40.

ITT (NYSE:ITT) last released its 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 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 in the previous year, the business earned $1.37 EPS. On average, sell-side analysts predict that ITT will post 5.84 EPS for the current year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 29th. ITT’s dividend payout ratio (DPR) is presently 21.67%.

Institutional Investors Weigh In On ITT

A number of institutional investors have recently added to or reduced their stakes in ITT. Tidal Investments LLC lifted its position in shares of ITT by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 6,487 shares of the conglomerate’s stock worth $970,000 after buying an additional 716 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in ITT during the third quarter worth $64,000. Sanctuary Advisors LLC boosted its stake in shares of ITT by 6.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,951 shares of the conglomerate’s stock valued at $626,000 after purchasing an additional 225 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 8,223 shares in the last quarter. Finally, Resources Management Corp CT ADV bought a new stake in shares of ITT in the 3rd quarter worth about $30,000. 91.59% of the stock is owned by institutional investors and hedge funds.

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.