ITT Inc. (NYSE:ITT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in ITT Inc. (NYSE:ITT) by 18.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,653 shares of the conglomerate’s stock after selling 1,025 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ITT were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of ITT. Norges Bank bought a new stake in ITT during the fourth quarter worth approximately $134,433,000. Raymond James Financial Inc. bought a new stake in shares of ITT during the fourth quarter valued at approximately $73,762,000. T. Rowe Price Investment Management Inc. boosted its stake in ITT by 63.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 931,240 shares of the conglomerate’s stock valued at $133,056,000 after acquiring an additional 360,123 shares during the last quarter. Select Equity Group L.P. grew its position in shares of ITT by 7.7% during the 4th quarter. Select Equity Group L.P. now owns 4,564,926 shares of the conglomerate’s stock worth $652,237,000 after buying an additional 326,947 shares during the period. Finally, GAMMA Investing LLC raised its stake in ITT by 13,886.0% during the 1st quarter. GAMMA Investing LLC now owns 214,406 shares of the conglomerate’s stock worth $27,693,000 after buying an additional 212,873 shares during the period. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Up 0.8%

Shares of NYSE:ITT opened at $161.39 on Friday. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a 50-day moving average price of $150.10 and a 200-day moving average price of $142.75. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.53.

ITT (NYSE:ITT) last released its earnings results on Thursday, May 1st. The conglomerate reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. ITT had a net margin of 14.19% and a return on equity of 17.75%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $901.22 million. During the same period last year, the business earned $1.42 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, research analysts forecast that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were issued a $0.351 dividend. This represents a $1.40 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, June 2nd. ITT’s dividend payout ratio is currently 22.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen raised ITT from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Stifel Nicolaus raised their target price on ITT from $161.00 to $171.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Citigroup cut their target price on ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Bank of America boosted their price objective on ITT from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Finally, KeyCorp lifted their price objective on shares of ITT from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $165.50.

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.