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Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ITT Inc. (NYSE:ITT – Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 108,105 shares of the conglomerate’s stock after acquiring an additional 6,143 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of ITT worth $14,706,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Norden Group LLC acquired a new position in ITT in the first quarter valued at about $211,000. Van ECK Associates Corp lifted its holdings in shares of ITT by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 30,701 shares of the conglomerate’s stock worth $4,176,000 after acquiring an additional 8,211 shares during the period. Vest Financial LLC boosted its position in shares of ITT by 214.5% during the 1st quarter. Vest Financial LLC now owns 6,478 shares of the conglomerate’s stock worth $881,000 after acquiring an additional 4,418 shares in the last quarter. Claret Asset Management Corp bought a new position in ITT in the first quarter valued at approximately $202,000. Finally, Commonwealth Equity Services LLC raised its position in ITT by 5.2% during the first quarter. Commonwealth Equity Services LLC now owns 28,509 shares of the conglomerate’s stock valued at $3,878,000 after purchasing an additional 1,406 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on ITT shares. UBS Group boosted their price target on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup increased their target price on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. DA Davidson lifted their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Stifel Nicolaus raised their target price on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, KeyCorp upped their price target on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $138.38.
ITT Trading Down 0.7 %
NYSE ITT traded down $0.86 on Friday, reaching $126.94. The company had a trading volume of 236,328 shares, compared to its average volume of 345,734. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.65 and a beta of 1.41. The business has a 50 day moving average of $131.67 and a two-hundred day moving average of $127.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. ITT Inc. has a fifty-two week low of $90.83 and a fifty-two week high of $140.20.
ITT (NYSE:ITT – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $910.60 million during the quarter, compared to the consensus estimate of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. Analysts forecast that ITT Inc. will post 5.85 EPS for the current year.
ITT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Monday, June 3rd. ITT’s payout ratio is 25.10%.
About ITT
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.
See Also
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