ITT (NYSE:ITT) moves to “buy” on StockNews.com

ITT (NYSE:ITT- Get a rating) was updated by stock researchers from StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other analysts have also recently released reports on the company. KeyCorp cut its price target on ITT from $100.00 to $90.00 and set an “overweight” rating for the company in a Tuesday, July 12 research note. UBS Group downgraded ITT from a “neutral” to a “buy” rating and lowered its target price for the company from $107.00 to $95.00 in a Friday, April 8 research note. Stifel Nicolaus lowered his price target on ITT from $107.00 to $91.00 and set a “buy” rating for the company in a Monday, April 18 research note. Cowen lowered his target price on ITT from $105.00 to $92.00 in a Monday, June 13 research note. Finally, DA Davidson reduced his price target on ITT from $110.00 to $100.00 and set a “buy” rating for the company in a Tuesday, June 21 research note. Three investment analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average price target of $94.00.

ITT Stock Performance

ITT shares traded at $1.33 during Friday trading hours, hitting $78.37. 505,932 shares of the company were traded, against an average volume of 621,565. The company has a market capitalization of $6.54 billion, a PE ratio of 22.14, a PEG ratio of 1.47 and a beta of 1.47. The company’s 50-day moving average is $70.04 and its 200-day moving average is $76.27. ITT has a 52-week low of $63.77 and a 52-week high of $105.54.

A d Invest daily

27 US cities where stocks earn 26% a year

What is the most productive stock you have ever owned? Dividends from these stocks have grown so rapidly over the years that they now earn us an average of 26%! When you start getting paid 26% on your money, your financial troubles tend to evaporate.

ITT (NYSE:ITT- Get a rating) last released its quarterly results on Thursday, August 4. The conglomerate reported earnings per share (EPS) of $0.98 for the quarter, beating the consensus estimate of $0.96 by $0.02. The company posted revenue of $733.30 million in the quarter, versus a consensus estimate of $715.19 million. ITT had a return on equity of 15.90% and a net margin of 10.92%. The company’s revenue increased 6.0% year over year. In the same quarter a year earlier, the company posted EPS of $0.94. As a group, stock analysts expect ITT to post earnings per share of 4.34 for the current fiscal year.

Hedge funds weigh on ITT

A number of hedge funds have recently changed their stock holdings. Capital International Investors increased its stake in ITT shares by 7.2% in the 4th quarter. Capital International Investors now owns 9,913,100 shares of the conglomerate worth $1,013,020,000 after purchasing an additional 669,698 shares last quarter. Alliancebernstein LP increased its equity stake in ITT by 2.9% in the fourth quarter. Alliancebernstein LP now owns 2,321,312 shares of the conglomerate worth $237,215,000 after purchasing an additional 65,659 shares last quarter. State Street Corp increased its stake in ITT shares by 4.0% in the first quarter. State Street Corp now owns 2,254,374 shares of the conglomerate worth $170,136,000 after buying an additional 87,718 shares last quarter. Massachusetts Financial Services Co. MA increased its stake in ITT stock by 1.8% in Q1. Massachusetts Financial Services Co. MA now owns 1,196,584 shares of the conglomerate worth $89,996,000 after buying 21,618 additional shares last quarter. Finally, Geode Capital Management LLC increased its stake in ITT shares by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,072,937 shares of the conglomerate worth $109,643,000 after purchasing an additional 12,464 shares last quarter. 95.64% of the shares are held by institutional investors and hedge funds.

About ITT

(Get a rating)

ITT Inc manufactures and sells critical engineered components and custom technology solutions for the transportation, industrial and energy markets worldwide. The Company operates through three segments: Motion Technologies, Industrial Process and Connect & Control Technologies. The Motion Technologies segment manufactures brake pads, shims, shock absorbers and energy absorbing components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light and heavy commercial and military vehicles, buses and trains.

Featured articles

Analyst recommendations for ITT (NYSE:ITT)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

Before you consider ITT, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and ITT wasn’t on the list.

Although ITT currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Comments are closed.