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.
WARNING: “Comerica Bank Sells 9,750 Shares of ITT Inc. (ITT)” was originally reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.thestockobserver.com/2018/02/06/comerica-bank-sells-9750-shares-of-itt-inc-itt.html.
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.
Want to see what other hedge funds are holding ITT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ITT Inc. (NYSE:ITT).
Receive News & Ratings for ITT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT and related companies with MarketBeat.com's FREE daily email newsletter.