Palladium Partners LLC Has $1.61 Million Position in ITT Inc (NYSE:ITT)

Palladium Partners LLC boosted its holdings in ITT Inc (NYSE:ITT) by 46.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,710 shares of the conglomerate’s stock after acquiring an additional 6,881 shares during the quarter. Palladium Partners LLC’s holdings in ITT were worth $1,605,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Asset Dedication LLC acquired a new stake in ITT during the fourth quarter valued at approximately $47,000. CENTRAL TRUST Co boosted its stake in ITT by 1,851.4% in the 4th quarter. CENTRAL TRUST Co now owns 722 shares of the conglomerate’s stock valued at $53,000 after buying an additional 685 shares in the last quarter. Bessemer Group Inc. boosted its stake in ITT by 555.6% in the 4th quarter. Bessemer Group Inc. now owns 767 shares of the conglomerate’s stock valued at $57,000 after buying an additional 650 shares in the last quarter. Allworth Financial LP bought a new stake in ITT in the fourth quarter valued at $111,000. Finally, S.A. Mason LLC bought a new stake in ITT in the fourth quarter valued at $122,000. 90.52% of the stock is owned by hedge funds and other institutional investors.

In other ITT news, insider Mary Elizabeth Gustafsson sold 5,978 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $69.00, for a total transaction of $412,482.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Orlando D. Ashford sold 2,399 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $72.36, for a total transaction of $173,591.64. Following the completion of the sale, the director now owns 20,215 shares of the company’s stock, valued at approximately $1,462,757.40. The disclosure for this sale can be found here. Insiders have sold a total of 8,797 shares of company stock valued at $615,125 over the last ninety days. Insiders own 1.00% of the company’s stock.

Several research analysts have issued reports on ITT shares. Oppenheimer increased their price objective on ITT from to in a research note on Tuesday, January 7th. Bank of America lowered shares of ITT from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. DA Davidson upped their target price on shares of ITT from $75.00 to $80.00 and gave the stock a “positive” rating in a report on Tuesday, November 19th. ValuEngine cut shares of ITT from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Goldman Sachs Group raised shares of ITT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $70.00 to $81.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $73.75.

NYSE ITT traded up $0.15 during trading hours on Friday, reaching $69.42. 58,657 shares of the company’s stock were exchanged, compared to its average volume of 585,777. The stock has a market cap of $6.07 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.65. ITT Inc has a one year low of $53.65 and a one year high of $75.56. The firm has a fifty day moving average of $71.71 and a 200-day moving average of $65.12.

ITT declared that its Board of Directors has authorized a share buyback program on Friday, November 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the conglomerate to repurchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

ITT Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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