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

Trust Point Inc. raised its stake in ITT Inc. (NYSE:ITT) by 45.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,261 shares of the conglomerate’s stock after acquiring an additional 1,022 shares during the quarter. Trust Point Inc.’s holdings in ITT were worth $466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in ITT by 16.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,785 shares of the conglomerate’s stock valued at $230,000 after buying an additional 253 shares during the last quarter. Sanctuary Advisors LLC bought a new position in ITT in the 2nd quarter valued at approximately $489,000. GAMMA Investing LLC raised its holdings in ITT by 48.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the conglomerate’s stock valued at $195,000 after buying an additional 427 shares during the last quarter. Everpar Advisors LLC bought a new position in ITT in the 3rd quarter valued at approximately $207,000. Finally, Fulton Bank N.A. raised its holdings 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 buying an additional 648 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Stock Performance

NYSE ITT opened at $149.59 on Thursday. The company has a fifty day simple moving average of $148.24 and a 200 day simple moving average of $144.77. ITT Inc. has a 12-month low of $118.58 and a 12-month high of $161.13. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The company has a market cap 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

ITT has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. TD Cowen raised their price target on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. KeyCorp raised their price target on shares of ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Wolfe Research started coverage on shares of ITT in a report on Wednesday, December 11th. They set a “peer perform” rating for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.