MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in ITT Inc. (NYSE:ITT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in ITT Inc. (NYSE:ITT) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,118 shares of the conglomerate’s stock after selling 5,584 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in ITT were worth $5,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Interval Partners LP bought a new position in shares of ITT during the 4th quarter worth $13,910,000. Janus Henderson Group PLC grew its holdings in ITT by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 928,116 shares of the conglomerate’s stock worth $132,611,000 after acquiring an additional 11,980 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in ITT during the 4th quarter valued at about $11,859,000. Graham Capital Management L.P. bought a new stake in shares of ITT in the 4th quarter valued at about $3,501,000. Finally, Focus Partners Wealth raised its holdings in shares of ITT by 38.3% in the 4th quarter. Focus Partners Wealth now owns 4,356 shares of the conglomerate’s stock valued at $622,000 after purchasing an additional 1,206 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on ITT shares. KeyCorp lifted their target price on ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. UBS Group upped their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup decreased their price objective on ITT from $181.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus boosted their target price on ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.29.

ITT Price Performance

Shares of NYSE ITT opened at $152.99 on Monday. ITT Inc. has a 52 week low of $105.64 and a 52 week high of $161.13. The business’s 50 day moving average price is $133.49 and its 200 day moving average price is $142.71. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $12.04 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $913.00 million for the quarter, compared to the consensus estimate of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. On average, sell-side analysts expect that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a dividend of $0.351 per share. This represents a $1.40 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, June 2nd. ITT’s dividend payout ratio (DPR) is 22.26%.

ITT Company 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.