ITT (NYSE:ITT) Upgraded at StockNews.com

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

Several other research firms have also recently weighed in on ITT. The Goldman Sachs Group upped their price target on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citigroup cut their price target on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wolfe Research began coverage on ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, KeyCorp boosted their target price on ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, ITT presently has a consensus rating of “Moderate Buy” and an average price target of $167.13.

ITT Stock Performance

Shares of ITT stock opened at $151.89 on Tuesday. ITT has a 12 month low of $118.58 and a 12 month high of $161.13. 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 capitalization of $12.38 billion, a PE ratio of 25.92, a PEG ratio of 1.84 and a beta of 1.41. The stock’s fifty day simple moving average is $148.93 and its 200 day simple moving average is $144.45.

ITT (NYSE:ITT) last released its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share 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 business had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same quarter in the previous year, the business posted $1.37 EPS. ITT’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts predict that ITT will post 5.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. acquired a new stake in shares of ITT in the 3rd quarter valued at approximately $67,503,000. Millennium Management LLC lifted its stake in ITT by 200.4% in the second quarter. Millennium Management LLC now owns 393,429 shares of the conglomerate’s stock valued at $50,823,000 after acquiring an additional 262,470 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of ITT by 160.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 106,926 shares of the conglomerate’s stock valued at $13,813,000 after acquiring an additional 65,826 shares during the period. Erste Asset Management GmbH acquired a new position in shares of ITT during the 3rd quarter worth about $7,075,000. Finally, Polar Asset Management Partners Inc. lifted its stake in ITT by 68.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate’s stock valued at $16,596,000 after purchasing an additional 45,300 shares during the last quarter. Institutional investors and hedge funds 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.