Comerica Bank Sells 9,750 Shares of ITT Inc. (ITT)

Comerica Bank reduced its stake in ITT Inc. (NYSE:ITT) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 223,749 shares of the conglomerate’s stock after selling 9,750 shares during the quarter. Comerica Bank’s holdings in ITT were worth $12,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in ITT by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 8,014,284 shares of the conglomerate’s stock valued at $322,014,000 after purchasing an additional 74,138 shares in the last quarter. Janus Henderson Group PLC increased its holdings in ITT by 2.7% in the 3rd quarter. Janus Henderson Group PLC now owns 3,132,953 shares of the conglomerate’s stock valued at $138,696,000 after purchasing an additional 80,975 shares in the last quarter. FMR LLC increased its holdings in ITT by 12.7% in the 2nd quarter. FMR LLC now owns 2,844,070 shares of the conglomerate’s stock valued at $114,274,000 after purchasing an additional 319,880 shares in the last quarter. Macquarie Group Ltd. increased its holdings in ITT by 18.5% in the 3rd quarter. Macquarie Group Ltd. now owns 2,615,074 shares of the conglomerate’s stock valued at $115,769,000 after purchasing an additional 407,746 shares in the last quarter. Finally, State Street Corp increased its holdings in ITT by 1.2% in the 2nd quarter. State Street Corp now owns 2,331,009 shares of the conglomerate’s stock valued at $93,659,000 after purchasing an additional 26,802 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Shares of ITT Inc. (ITT) opened at $52.49 on Tuesday. The firm has a market capitalization of $4,860.00, a PE ratio of 23.02, a PEG ratio of 1.45 and a beta of 1.54. ITT Inc. has a 52 week low of $36.93 and a 52 week high of $57.62.

Several brokerages recently issued reports on ITT. UBS Group began coverage on ITT in a report on Tuesday, January 23rd. They issued a “sell” rating and a $55.00 price target for the company. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer reiterated a “buy” rating and issued a $60.00 price target on shares of ITT in a report on Thursday, January 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 price target (up from $60.00) on shares of ITT in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.00.

In other news, insider Denise L. Ramos sold 161,100 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $50.14, for a total transaction of $8,077,554.00. Following the completion of the sale, the insider now directly owns 283,032 shares in the company, valued at $14,191,224.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas M. Scalera sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $50.98, for a total value of $254,900.00. The disclosure for this sale can be found here. Insiders have sold 171,960 shares of company stock valued at $8,630,962 over the last 90 days. Insiders own 1.20% of the company’s stock.

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ITT Profile

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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