MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.52 Million Holdings in ITT Inc. $ITT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in ITT Inc. by 22.5%, selling 7,899 shares and retaining a total of 27,219 shares valued at approximately $3.52 million.
• Several hedge funds, including Jump Financial LLC, GSA Capital Partners LLP, and Charles Schwab Investment Management, increased their holdings in ITT during the 1st quarter, indicating positive institutional interest.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for ITT, with an average target price of $183.67, following various upgrades from firms like UBS and Stifel Nicolaus.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in ITT Inc. (NYSE:ITT - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,219 shares of the conglomerate's stock after selling 7,899 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in ITT were worth $3,516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in shares of ITT by 3,513.3% in the first quarter. Versant Capital Management Inc now owns 542 shares of the conglomerate's stock worth $70,000 after buying an additional 527 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of ITT by 72.7% during the first quarter. Farther Finance Advisors LLC now owns 786 shares of the conglomerate's stock worth $103,000 after acquiring an additional 331 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of ITT by 13.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 749 shares of the conglomerate's stock worth $107,000 after acquiring an additional 87 shares in the last quarter. CX Institutional purchased a new stake in shares of ITT during the first quarter worth $107,000. Finally, UMB Bank n.a. raised its holdings in shares of ITT by 84.5% during the first quarter. UMB Bank n.a. now owns 856 shares of the conglomerate's stock worth $111,000 after acquiring an additional 392 shares in the last quarter. 91.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Bank of America raised their target price on ITT from $190.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. DA Davidson set a $190.00 target price on ITT and gave the stock a "buy" rating in a research report on Monday, August 4th. Stifel Nicolaus lifted their target price on ITT from $197.00 to $202.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. UBS Group lifted their target price on ITT from $168.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, Citigroup reaffirmed a "buy" rating and set a $186.00 price objective (up from $159.00) on shares of ITT in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $188.11.

Insider Buying and Selling

In other news, CEO Luca Savi sold 36,385 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $164.76, for a total value of $5,994,792.60. Following the completion of the sale, the chief executive officer owned 297,536 shares in the company, valued at $49,022,031.36. This represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

ITT Trading Up 1.1%

Shares of NYSE ITT traded up $1.98 during trading on Tuesday, hitting $182.05. 473,974 shares of the company were exchanged, compared to its average volume of 490,131. The firm has a market capitalization of $14.20 billion, a PE ratio of 28.62, a P/E/G ratio of 2.19 and a beta of 1.39. ITT Inc. has a 12-month low of $105.64 and a 12-month high of $182.51. The company has a fifty day moving average price of $166.03 and a 200-day moving average price of $149.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 1.45.

ITT (NYSE:ITT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The conglomerate reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.02. ITT had a net margin of 13.99% and a return on equity of 18.08%. The company had revenue of $972.40 million for the quarter, compared to analyst estimates of $947.48 million. During the same period in the prior year, the firm earned $1.49 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. ITT has set its FY 2025 guidance at 6.350-6.550 EPS. As a group, equities research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be issued a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 2nd. ITT's payout ratio is 22.01%.

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.