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

Bank of New York Mellon Corp reduced its holdings in ITT Inc. (NYSE:ITT) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 619,524 shares of the conglomerate’s stock after selling 68,403 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of ITT worth $118,038,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Elyxium Wealth LLC purchased a new position in ITT during the 4th quarter valued at $29,000. Bayban purchased a new stake in shares of ITT in the 4th quarter worth about $31,000. Parkside Financial Bank & Trust boosted its stake in shares of ITT by 62.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 197 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 76 shares in the last quarter. Triumph Capital Management purchased a new position in shares of ITT during the third quarter valued at about $37,000. Finally, Entrust Financial LLC purchased a new position in shares of ITT during the fourth quarter valued at about $36,000. 91.59% of the stock is owned by hedge funds and other institutional investors.

ITT Trading Down 0.7%

ITT stock opened at $191.18 on Tuesday. ITT Inc. has a 12 month low of $155.58 and a 12 month high of $225.26. The company has a market capitalization of $17.09 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27. The business’s fifty day simple moving average is $193.49 and its two-hundred day simple moving average is $195.21. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71.

ITT (NYSE:ITT) last posted its quarterly earnings results on Wednesday, May 6th. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.21. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.ITT’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. As a group, equities analysts predict that ITT Inc. will post 7.91 earnings per share for the current fiscal year.

ITT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 8th were given a dividend of $0.386 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.8%. ITT’s dividend payout ratio (DPR) is 27.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ITT shares. The Goldman Sachs Group assumed coverage on shares of ITT in a report on Tuesday, March 31st. They issued a “buy” rating and a $270.00 price objective for the company. DA Davidson raised their target price on ITT from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Wolfe Research upgraded ITT from a “peer perform” rating to an “outperform” rating and set a $229.00 price target on the stock in a research report on Thursday, July 9th. Citigroup upped their price target on ITT from $252.00 to $254.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings cut shares of ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.75.

Insider Buying and Selling

In related news, insider Lori B. Marino sold 7,123 shares of the company’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 transaction, the insider directly 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mesa Graziano Cheryl De sold 200 shares of the 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 sale, the chief accounting officer owned 7,859 shares in the company, valued at approximately $1,637,894.19. This represents a 2.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.88% of the stock is owned by insiders.

ITT Company 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.