ITT's (ITT) Buy (B) Rating Reaffirmed at Weiss Ratings

Key Points

• ITT's stock received a reaffirmed "buy" rating from Weiss Ratings, reflecting strong confidence from analysts.
• Several firms have increased their target prices for ITT, with estimates ranging from $186.00 to $202.00 and a consensus price target of approximately $190.89.
• The company reported a quarterly EPS of $1.64, surpassing estimates and indicating a year-over-year revenue increase of 7.3%.

ITT (NYSE:ITT - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also issued reports on ITT. Stifel Nicolaus upped their target price on ITT from $197.00 to $202.00 and gave the company a "buy" rating in a report on Friday, August 1st. DA Davidson set a $190.00 target price on ITT and gave the company a "buy" rating in a report on Monday, August 4th. UBS Group upped their target price on ITT from $168.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. KeyCorp upped their target price on ITT from $192.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Finally, Citigroup reaffirmed a "buy" rating and issued a $186.00 target price (up from $159.00) on shares of ITT in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $190.89.

ITT Stock Performance

Shares of ITT opened at $179.64 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45. The stock has a 50 day moving average price of $173.05 and a two-hundred day moving average price of $154.88. The firm has a market capitalization of $14.01 billion, a P/E ratio of 28.25, a P/E/G ratio of 2.20 and a beta of 1.38. ITT has a 52 week low of $105.64 and a 52 week high of $185.57.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The conglomerate reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. The firm had revenue of $972.40 million during the quarter, compared to analyst estimates of $947.48 million. ITT had a return on equity of 18.08% and a net margin of 13.99%.The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 EPS. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. Equities analysts forecast that ITT will post 6.51 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Luca Savi sold 36,385 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the sale, the chief executive officer owned 297,536 shares in the company, valued at approximately $49,022,031.36. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On ITT

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Gravity Companies Inc. purchased a new stake in shares of ITT in the second quarter worth $27,000. Atlantic Union Bankshares Corp purchased a new stake in ITT during the second quarter valued at about $34,000. MTM Investment Management LLC purchased a new stake in ITT during the second quarter valued at about $39,000. Clearstead Trust LLC raised its position in ITT by 40.0% during the second quarter. Clearstead Trust LLC now owns 350 shares of the conglomerate's stock valued at $55,000 after purchasing an additional 100 shares in the last quarter. Finally, NewSquare Capital LLC raised its position in ITT by 37.2% during the second quarter. NewSquare Capital LLC now owns 454 shares of the conglomerate's stock valued at $71,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company's stock.

About ITT

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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