ITT Inc. (NYSE:ITT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, July 18th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $43.00 in a report on Tuesday, June 6th. Stifel Nicolaus boosted their price objective on ITT from $49.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Finally, TheStreet upgraded ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $46.57.
Shares of ITT (NYSE ITT) traded up 1.18% during trading on Tuesday, hitting $42.19. The company had a trading volume of 253,313 shares. ITT has a 52 week low of $31.08 and a 52 week high of $44.00. The company has a market capitalization of $3.74 billion, a P/E ratio of 19.44 and a beta of 1.47. The stock’s 50-day moving average price is $40.15 and its 200 day moving average price is $40.60.
ITT (NYSE:ITT) last posted its quarterly earnings data on Monday, May 8th. The conglomerate reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. ITT had a return on equity of 14.65% and a net margin of 8.04%. The company had revenue of $625.80 million during the quarter, compared to analysts’ expectations of $607.08 million. During the same quarter in the previous year, the business earned $0.59 EPS. ITT’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that ITT will post $2.43 earnings per share for the current year.
A number of large investors have recently modified their holdings of the stock. Timber Hill LLC purchased a new stake in shares of ITT during the first quarter worth $201,000. Coastline Trust Co purchased a new stake in shares of ITT during the first quarter worth $205,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ITT during the first quarter worth $214,000. Stephens Inc. AR purchased a new stake in shares of ITT during the first quarter worth $222,000. Finally, World Asset Management Inc raised its stake in shares of ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock worth $225,000 after buying an additional 19 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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