State Treasurer State of Michigan lowered its stake in shares of ITT Inc. (NYSE:ITT) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,600 shares of the conglomerate’s stock after selling 1,500 shares during the period. State Treasurer State of Michigan’s holdings in ITT were worth $1,686,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ITT. Stevens First Principles Investment Advisors purchased a new position in ITT in the 3rd quarter valued at approximately $137,000. Huntington National Bank purchased a new position in ITT in the 3rd quarter valued at approximately $191,000. Creative Planning purchased a new position in ITT in the 4th quarter valued at approximately $205,000. Catawba Capital Management VA purchased a new position in ITT in the 4th quarter valued at approximately $239,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in ITT by 17.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,120 shares of the conglomerate’s stock valued at $246,000 after buying an additional 914 shares during the period. 91.63% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on ITT. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of ITT from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $63.00 price target (up previously from $60.00) on shares of ITT in a research report on Tuesday, January 16th. UBS Group began coverage on shares of ITT in a research report on Tuesday, January 23rd. They issued a “sell” rating and a $55.00 price target for the company. Finally, Oppenheimer reissued a “buy” rating and issued a $60.00 price target on shares of ITT in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Shares of ITT Inc. (ITT) opened at $51.71 on Thursday. The stock has a market cap of $4,502.96, a price-to-earnings ratio of 22.19, a PEG ratio of 1.35 and a beta of 1.54. ITT Inc. has a 1 year low of $36.93 and a 1 year high of $57.62.

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ITT Profile

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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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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