Crews Bank & Trust Makes New Investment in ITT Inc. (NYSE:ITT)

Crews Bank & Trust acquired a new stake in shares of ITT Inc. (NYSE:ITT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,600 shares of the conglomerate’s stock, valued at approximately $229,000.

Several other hedge funds have also recently modified their holdings of the stock. Algert Global LLC purchased a new position in ITT during the second quarter valued at $1,158,000. Eagle Asset Management Inc. purchased a new position in shares of ITT during the third quarter valued at about $67,503,000. Allspring Global Investments Holdings LLC increased its holdings in shares of ITT by 46.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 95,398 shares of the conglomerate’s stock worth $14,263,000 after purchasing an additional 30,320 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of ITT by 16,832.5% in the third quarter. International Assets Investment Management LLC now owns 14,054 shares of the conglomerate’s stock worth $2,101,000 after buying an additional 13,971 shares in the last quarter. Finally, Pier 88 Investment Partners LLC boosted its stake in ITT by 268.1% during the third quarter. Pier 88 Investment Partners LLC now owns 27,830 shares of the conglomerate’s stock valued at $4,161,000 after buying an additional 20,270 shares during the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Price Performance

ITT stock opened at $151.89 on Friday. The stock has a market cap of $12.38 billion, a PE ratio of 25.92, a P/E/G ratio of 1.77 and a beta of 1.41. ITT Inc. has a 12 month low of $118.58 and a 12 month high of $161.13. The company has a 50-day moving average price of $148.93 and a 200 day moving average price of $144.45. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

ITT (NYSE:ITT) last announced its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to analyst estimates of $884.50 million. ITT had a return on equity of 17.98% and a net margin of 13.67%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 earnings per share. Equities research analysts anticipate that ITT Inc. will post 5.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITT. KeyCorp lifted their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup reduced their price target on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus lowered their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $167.13.

ITT 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.