ITT Inc. (ITT) Holdings Lifted by Meeder Asset Management Inc.
Meeder Asset Management Inc. raised its holdings in ITT Inc. (NYSE:ITT) by 3,371.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,798 shares of the conglomerate’s stock after purchasing an additional 5,631 shares during the period. Meeder Asset Management Inc.’s holdings in ITT were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in ITT. Stevens First Principles Investment Advisors bought a new position in ITT in the 3rd quarter valued at $137,000. Huntington National Bank bought a new position in ITT in the 3rd quarter valued at $191,000. Creative Planning bought a new position in ITT in the 4th quarter valued at $205,000. Portland Global Advisors LLC bought a new position in ITT in the 4th quarter valued at $232,000. Finally, Catawba Capital Management VA bought a new position in ITT in the 4th quarter valued at $239,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.
In other news, insider Denise L. Ramos sold 161,100 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 283,032 shares of the company’s stock, valued at approximately $14,191,224.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven C. Giuliano sold 5,860 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $50.94, for a total value of $298,508.40. The disclosure for this sale can be found here. Insiders have sold a total of 171,960 shares of company stock worth $8,630,962 in the last ninety days. Insiders own 1.20% of the company’s stock.
A number of brokerages have issued reports on ITT. Oppenheimer restated a “buy” rating and issued a $60.00 price objective on shares of ITT in a research note on Thursday, January 18th. Zacks Investment Research downgraded ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Seaport Global Securities restated a “buy” rating on shares of ITT in a research note on Monday, November 6th. Finally, UBS Group began coverage on ITT in a research note on Tuesday, January 23rd. They issued a “sell” rating and a $55.00 price objective for the company. Two 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 company has a consensus rating of “Buy” and an average target price of $56.00.
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.
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