MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 5,584 Shares of ITT Inc. (NYSE:ITT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in ITT Inc. (NYSE:ITT - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of ITT in the fourth quarter valued at approximately $34,000. Quarry LP boosted its stake in ITT by 101.6% in the fourth quarter. Quarry LP now owns 248 shares of the conglomerate's stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 182 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ITT. The Goldman Sachs Group raised their price objective on shares of ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. KeyCorp raised 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. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Stifel Nicolaus raised their price objective on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Bank of America raised their price objective on shares of ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, ITT currently has a consensus rating of "Moderate Buy" and an average price target of $165.50.

ITT Trading Down 0.6%

Shares of NYSE ITT traded down $0.83 during midday trading on Friday, reaching $147.43. 380,826 shares of the stock were exchanged, compared to its average volume of 457,560. The business has a 50-day simple moving average of $135.15 and a two-hundred day simple moving average of $142.92. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.89 and a beta of 1.36. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96.

ITT (NYSE:ITT - Get Free Report) last posted 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 analysts' expectations of $901.22 million. ITT had a net margin of 14.27% and a return on equity of 18.03%. The firm's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.42 EPS. As a group, equities research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $0.351 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 0.95%. ITT's dividend payout ratio is currently 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.