Bank of New York Mellon Corp Has $119.36 Million Stake in ITT Inc. $ITT

Bank of New York Mellon Corp lowered its holdings in ITT Inc. (NYSE:ITT) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 687,927 shares of the conglomerate’s stock after selling 56,261 shares during the period. Bank of New York Mellon Corp’s holdings in ITT were worth $119,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. iSAM Funds UK Ltd acquired a new stake in shares of ITT during the 3rd quarter worth approximately $2,113,000. Chesapeake Capital Corp IL bought a new position in ITT during the third quarter worth $1,125,000. Brown Brothers Harriman & Co. grew its holdings in ITT by 86,878.2% in the third quarter. Brown Brothers Harriman & Co. now owns 267,893 shares of the conglomerate’s stock worth $47,889,000 after purchasing an additional 267,585 shares during the period. Regents Gate Capital LLP bought a new stake in ITT in the third quarter valued at $9,381,000. Finally, TimesSquare Capital Management LLC increased its stake in ITT by 10.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 226,700 shares of the conglomerate’s stock valued at $39,335,000 after purchasing an additional 21,200 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mesa Graziano Cheryl De sold 200 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the sale, the chief accounting officer owned 7,859 shares in the company, valued at $1,637,894.19. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lori B. Marino sold 7,123 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $208.27, for a total transaction of $1,483,507.21. Following the completion of the sale, the insider owned 8,729 shares of the company’s stock, valued at approximately $1,817,988.83. This represents a 44.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.88% of the company’s stock.

ITT Trading Up 0.1%

ITT opened at $191.61 on Monday. ITT Inc. has a fifty-two week low of $149.02 and a fifty-two week high of $225.26. The firm has a market capitalization of $17.13 billion, a PE ratio of 33.79, a P/E/G ratio of 1.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.53 and a quick ratio of 1.01. The company’s 50-day moving average is $203.28 and its 200 day moving average is $192.12.

ITT (NYSE:ITT) last released its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.21. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, research analysts predict that ITT Inc. will post 7.9 earnings per share for the current fiscal year.

ITT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 8th will be given a $0.386 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 8th. ITT’s dividend payout ratio is presently 27.16%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ITT shares. Citigroup increased their price objective on shares of ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. BMO Capital Markets started coverage on ITT in a research report on Friday, March 27th. They issued an “outperform” rating and a $233.00 target price for the company. Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Wall Street Zen cut ITT from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group assumed coverage on ITT in a report on Tuesday, March 31st. They set a “buy” rating and a $270.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.91.

About ITT

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company’s operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.