ITT (NYSE:ITT) Upgraded to “Buy” at StockNews.com

ITT (NYSE:ITT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on ITT. KeyCorp raised their price target on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus raised their target price on ITT from $148.00 to $161.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Citigroup cut their price target on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.86.

ITT Stock Up 1.6 %

Shares of ITT stock opened at $143.69 on Wednesday. The stock’s 50 day simple moving average is $131.92 and its 200 day simple moving average is $142.50. ITT has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last released its quarterly earnings results on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. As a group, research analysts predict that ITT will post 6.51 EPS for the current year.

Hedge Funds Weigh In On ITT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rialto Wealth Management LLC acquired a new position in ITT in the fourth quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of ITT in the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC bought a new position in shares of ITT during the 4th quarter worth approximately $34,000. Quarry LP boosted its stake in ITT by 101.6% in the 4th quarter. Quarry LP now owns 248 shares of the conglomerate’s stock valued at $35,000 after buying an additional 125 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock valued at $59,000 after acquiring an additional 182 shares during the period. 91.59% of the stock is owned by 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.