ETF Managers Group LLC increased its stake in shares of ITT Inc (NYSE:ITT) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,663 shares of the conglomerate’s stock after buying an additional 363 shares during the period. ETF Managers Group LLC’s holdings in ITT were worth $129,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in ITT by 180.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 280,100 shares of the conglomerate’s stock worth $17,159,000 after buying an additional 180,275 shares in the last quarter. Landmark Bank lifted its position in ITT by 16.3% during the 4th quarter. Landmark Bank now owns 44,433 shares of the conglomerate’s stock valued at $2,145,000 after purchasing an additional 6,212 shares during the period. FMR LLC lifted its position in ITT by 14.2% during the 3rd quarter. FMR LLC now owns 7,617,264 shares of the conglomerate’s stock valued at $466,635,000 after purchasing an additional 945,321 shares during the period. Arizona State Retirement System lifted its position in ITT by 2.5% during the 3rd quarter. Arizona State Retirement System now owns 62,200 shares of the conglomerate’s stock valued at $3,810,000 after purchasing an additional 1,520 shares during the period. Finally, American International Group Inc. lifted its position in ITT by 1.2% during the 3rd quarter. American International Group Inc. now owns 178,069 shares of the conglomerate’s stock valued at $10,909,000 after purchasing an additional 2,165 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.
ITT stock opened at $53.35 on Tuesday. ITT Inc has a 1 year low of $44.89 and a 1 year high of $63.04. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.62.
A number of research firms have issued reports on ITT. Oppenheimer set a $67.00 target price on shares of ITT and gave the company a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Monday, December 3rd. Finally, Robert W. Baird restated a “buy” rating and set a $65.00 target price on shares of ITT in a research report on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.38.
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ITT, Inc engages in the provision of engineering and technology. Its activities include manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Industrial Process, Motion Technologies, Interconnect Solutions, and Control Technologies.
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