Trust Point Inc. Acquires 1,022 Shares of ITT Inc. (NYSE:ITT)

Trust Point Inc. lifted its holdings in shares of ITT Inc. (NYSE:ITT) by 45.6% during the fourth quarter, HoldingsChannel reports. The firm owned 3,261 shares of the conglomerate’s stock after purchasing an additional 1,022 shares during the quarter. Trust Point Inc.’s holdings in ITT were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ITT. Northwestern Mutual Wealth Management Co. raised its stake in shares of ITT by 16.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate’s stock worth $230,000 after purchasing an additional 253 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of ITT during the 2nd quarter worth $489,000. GAMMA Investing LLC raised its stake in shares of ITT by 48.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock worth $195,000 after purchasing an additional 427 shares during the period. Everpar Advisors LLC bought a new stake in ITT in the 3rd quarter valued at about $207,000. Finally, Fulton Bank N.A. raised its stake in ITT by 25.0% in the 3rd quarter. Fulton Bank N.A. now owns 3,242 shares of the conglomerate’s stock valued at $485,000 after acquiring an additional 648 shares during the period. 91.59% of the stock is currently owned by institutional investors.

ITT Stock Performance

Shares of ITT stock opened at $149.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. ITT Inc. has a fifty-two week low of $118.58 and a fifty-two week high of $161.13. The stock has a 50 day moving average price of $148.24 and a two-hundred day moving average price of $144.77. The company has a market capitalization of $12.19 billion, a P/E ratio of 25.53, a PEG ratio of 1.81 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird lowered their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup lowered their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group lifted their target price on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Stifel Nicolaus reduced their target price on ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.13.

ITT Company Profile

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.