ITT Inc (ITT) Given Average Recommendation of “Buy” by Brokerages

ITT Inc (NYSE:ITT) has been given a consensus rating of “Buy” by the ten research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $65.71.

ITT has been the topic of several recent analyst reports. Oppenheimer set a $67.00 price objective on shares of ITT and gave the company a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Monday, December 3rd. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 price objective on shares of ITT in a research report on Wednesday, November 7th.

Shares of ITT stock traded down $1.58 on Tuesday, hitting $51.63. 441,072 shares of the company’s stock were exchanged, compared to its average volume of 509,734. The stock has a market capitalization of $4.66 billion, a PE ratio of 19.92, a P/E/G ratio of 1.21 and a beta of 1.66. ITT has a 1 year low of $44.89 and a 1 year high of $63.04.

ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The business had revenue of $680.60 million for the quarter, compared to analysts’ expectations of $677.36 million. ITT had a net margin of 7.80% and a return on equity of 16.10%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. On average, equities research analysts expect that ITT will post 3.15 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in ITT. Paradigm Asset Management Co. LLC bought a new stake in shares of ITT during the 3rd quarter valued at $49,000. Meeder Asset Management Inc. increased its holdings in ITT by 10.0% in the 4th quarter. Meeder Asset Management Inc. now owns 2,304 shares of the conglomerate’s stock valued at $111,000 after acquiring an additional 210 shares during the last quarter. Bessemer Group Inc. increased its holdings in ITT by 593.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock valued at $173,000 after acquiring an additional 2,423 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in ITT in the 3rd quarter valued at $176,000. Finally, Boston Private Wealth LLC bought a new stake in ITT in the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 91.10% of the company’s stock.

ITT Company Profile

ITT, Inc engages in the provision of engineering and technology. Its activities include manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies.

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Analyst Recommendations for ITT (NYSE:ITT)

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