ITT (NYSE:ITT) Rating Lowered to “Hold” at Wall Street Zen

ITT (NYSE:ITT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts have also issued reports on ITT. Cowen reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. KeyCorp upped their price objective on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Stifel Nicolaus set a $225.00 price objective on shares of ITT in a research note on Friday, December 5th. Bank of America lifted their target price on shares of ITT from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, Citigroup upped their target price on ITT from $207.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, ITT currently has an average rating of “Buy” and a consensus price target of $207.13.

ITT Stock Performance

Shares of ITT opened at $174.42 on Friday. The firm has a market capitalization of $15.01 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.85 and a beta of 1.37. ITT has a 52 week low of $105.64 and a 52 week high of $197.07. The stock has a 50 day moving average price of $180.35 and a two-hundred day moving average price of $172.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52.

ITT (NYSE:ITT) last posted its earnings results on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.11. ITT had a return on equity of 18.96% and a net margin of 12.67%.The company had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. During the same quarter last year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. ITT has set its FY 2025 guidance at 6.620-6.680 EPS. Equities analysts forecast that ITT will post 6.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ITT news, CFO Emmanuel Caprais sold 5,500 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $185.23, for a total value of $1,018,765.00. Following the sale, the chief financial officer directly owned 36,830 shares in the company, valued at $6,822,020.90. The trade was a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Mesa Graziano Cheryl De sold 238 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $183.08, for a total value of $43,573.04. Following the transaction, the chief accounting officer directly owned 5,062 shares in the company, valued at $926,750.96. This represents a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On ITT

Several large investors have recently modified their holdings of the business. Covea Finance lifted its position in ITT by 88.5% in the 2nd quarter. Covea Finance now owns 37,700 shares of the conglomerate’s stock worth $5,912,000 after buying an additional 17,700 shares during the last quarter. MQS Management LLC purchased a new position in shares of ITT during the second quarter worth approximately $362,000. Gamco Investors INC. ET AL lifted its holdings in shares of ITT by 2.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 284,743 shares of the conglomerate’s stock worth $44,656,000 after acquiring an additional 7,516 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of ITT in the 2nd quarter valued at $249,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of ITT during the 2nd quarter valued at $21,894,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.