ITT (NYSE:ITT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of ITT (NYSE:ITT) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

A number of other brokerages have also recently commented on ITT. TD Cowen increased their price target on ITT from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. DA Davidson reiterated a “buy” rating and set a $215.00 target price on shares of ITT in a research report on Monday, December 8th. Cowen reiterated a “buy” rating on shares of ITT in a research note on Thursday, October 2nd. Citigroup upped their price target on shares of ITT from $207.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $225.00 price objective on shares of ITT in a research note on Friday, December 5th. Ten investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $207.13.

ITT Price Performance

Shares of NYSE:ITT opened at $183.46 on Monday. ITT has a fifty-two week low of $105.64 and a fifty-two week high of $197.07. The company’s 50-day moving average is $179.36 and its 200 day moving average is $174.38. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.05 and a current ratio of 1.52. The company has a market capitalization of $15.78 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37.

ITT (NYSE:ITT) last announced its quarterly earnings data on Wednesday, October 29th. The conglomerate reported $1.78 EPS for the quarter, topping the consensus estimate of $1.67 by $0.11. ITT had a net margin of 12.67% and a return on equity of 18.96%. The business had revenue of $999.10 million for the quarter, compared to analyst estimates of $973.69 million. During the same quarter in the previous year, the firm posted $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. On average, equities research analysts forecast that ITT will post 6.51 earnings per share for the current year.

ITT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a dividend of $0.351 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 0.8%. ITT’s payout ratio is presently 23.26%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On ITT

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

ITT Company Profile

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.