Bank of New York Mellon Corp Reduces Stock Position in ITT Inc. $ITT

Bank of New York Mellon Corp cut its stake in shares of ITT Inc. (NYSE:ITT) by 9.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 619,524 shares of the conglomerate’s stock after selling 68,403 shares during the quarter. Bank of New York Mellon Corp’s holdings in ITT were worth $118,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co purchased a new position in shares of ITT during the 1st quarter valued at $2,478,000. TimesSquare Capital Management LLC lifted its position in shares of 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 acquiring an additional 21,200 shares in the last quarter. Payden & Rygel lifted its position in shares of ITT by 34.7% in the fourth quarter. Payden & Rygel now owns 112,500 shares of the conglomerate’s stock valued at $19,520,000 after acquiring an additional 29,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ITT by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate’s stock worth $1,467,976,000 after acquiring an additional 620,217 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of ITT by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 1,614,929 shares of the conglomerate’s stock worth $280,267,000 after purchasing an additional 217,360 shares in the last quarter. 91.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ITT

In other news, insider Lori B. Marino sold 7,123 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $208.27, for a total value of $1,483,507.21. Following the completion of the sale, the insider directly owned 8,729 shares of the company’s stock, valued at $1,817,988.83. This trade represents a 44.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $208.41, for a total value of $41,682.00. Following the completion of the transaction, the chief accounting officer owned 7,859 shares of the company’s stock, valued at approximately $1,637,894.19. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ITT. DA Davidson upped their price target on ITT from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Stifel Nicolaus boosted their target price on shares of ITT from $246.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Barclays upped their target price on shares of ITT from $210.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Finally, Citigroup lifted their price target on shares of ITT from $252.00 to $254.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $234.75.

ITT Price Performance

ITT stock opened at $191.18 on Tuesday. The company has a fifty day simple moving average of $193.49 and a two-hundred day simple moving average of $195.21. ITT Inc. has a 52 week low of $155.58 and a 52 week high of $225.26. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $17.09 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27.

ITT (NYSE:ITT) last announced its earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.21. ITT had a net margin of 10.80% and a return on equity of 16.83%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the company earned $1.45 EPS. The business’s revenue was up 32.7% compared to the same quarter last year. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. Analysts anticipate that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 8th were given a dividend of $0.386 per share. The ex-dividend date was Monday, June 8th. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. ITT’s dividend payout ratio is 27.16%.

ITT Profile

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.