Bank of New York Mellon Corp Sells 56,261 Shares of ITT Inc. $ITT

Key Points

• Bank of New York Mellon reduced its ITT stake by 7.6% in the fourth quarter, selling 56,261 shares and ending with 687,927 shares valued at about $119.4 million.
• ITT’s latest earnings beat expectations, reporting $1.98 EPS on $1.21 billion in revenue, with revenue up 32.7% year over year; the company also set FY 2026 guidance of $7.70 to $8.00 EPS.
• Analysts remain broadly positive on ITT, with 10 Buy ratings and 1 Hold rating, a consensus “Moderate Buy,” and an average price target of $234.91.

Bank of New York Mellon Corp trimmed its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687,927 shares of the conglomerate's stock after selling 56,261 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of ITT worth $119,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of ITT by 10.9% in the third quarter. Assetmark Inc. now owns 558 shares of the conglomerate's stock valued at $100,000 after buying an additional 55 shares during the last quarter. Stephens Inc. AR raised its position in ITT by 3.8% in the 4th quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate's stock worth $287,000 after purchasing an additional 60 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in ITT by 0.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,917 shares of the conglomerate's stock worth $4,454,000 after buying an additional 65 shares in the last quarter. Merit Financial Group LLC lifted its holdings in ITT by 1.5% during the 3rd quarter. Merit Financial Group LLC now owns 4,725 shares of the conglomerate's stock worth $845,000 after buying an additional 69 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in ITT by 4.0% in the 3rd quarter. IFP Advisors Inc now owns 1,847 shares of the conglomerate's stock valued at $330,000 after buying an additional 71 shares during the last quarter. Institutional investors own 91.59% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on ITT shares. Wall Street Zen cut ITT from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. KeyCorp raised their target price on shares of ITT from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of ITT from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 13th. DA Davidson boosted their price target on shares of ITT from $245.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Finally, Citigroup increased their price objective on shares of ITT from $252.00 to $254.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $234.91.

ITT Price Performance

Shares of ITT stock opened at $191.61 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.53 and a debt-to-equity ratio of 0.71. ITT Inc. has a 12-month low of $149.02 and a 12-month high of $225.26. The firm has a fifty day moving average of $203.28 and a 200-day moving average of $192.12. The firm has a market capitalization of $17.13 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last posted its 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 firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.12 billion. ITT had a return on equity of 16.83% and a net margin of 10.80%.The company's revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 earnings per share. ITT has set its FY 2026 guidance at 7.700-8.000 EPS. On average, equities research analysts forecast that ITT Inc. will post 7.9 earnings per share for the current year.

ITT Dividend Announcement

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

Insider Activity at ITT

In other ITT news, CAO Mesa Graziano Cheryl De sold 200 shares of ITT stock in a transaction dated Thursday, May 7th. The stock was 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 of the company's stock, valued at $1,637,894.19. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lori B. Marino sold 7,123 shares of the business's stock in a transaction dated Friday, May 8th. The shares were 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 owned 8,729 shares in the company, valued at approximately $1,817,988.83. This trade represents a 44.93% 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 corporate 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.

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