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

Key Points

• Bank of New York Mellon acquired 606,052 ITT shares worth approximately $119.9 million, representing about 0.68% of the company. Institutional investors collectively own 91.59% of ITT.
• ITT reported better-than-expected quarterly results, with earnings of $2.08 per share versus the $1.92 consensus and revenue of $1.47 billion, up 51.5% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $241.08.
• ITT declared a quarterly dividend of $0.386 per share, equivalent to $1.54 annually and a 0.7% yield. The stock recently traded at $208.23, below its 52-week high of $230.32.

Bank of New York Mellon Corp purchased a new position in ITT Inc. (NYSE:ITT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 606,052 shares of the conglomerate's stock, valued at approximately $119,853,000. Bank of New York Mellon Corp owned approximately 0.68% of ITT at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ITT. Amundi grew its position in ITT by 22,565.6% during the 1st quarter. Amundi now owns 7,253 shares of the conglomerate's stock worth $867,000 after purchasing an additional 7,221 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of ITT by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 418,238 shares of the conglomerate's stock valued at $54,020,000 after purchasing an additional 28,937 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of ITT in the first quarter worth $360,000. Focus Partners Wealth grew its holdings in shares of ITT by 80.7% during the first quarter. Focus Partners Wealth now owns 7,871 shares of the conglomerate's stock valued at $1,017,000 after buying an additional 3,515 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of ITT during the second quarter valued at $1,880,000. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Stock Up 0.1%

ITT opened at $208.23 on Monday. The company has a market capitalization of $18.62 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. ITT Inc. has a fifty-two week low of $165.82 and a fifty-two week high of $230.32. The business has a 50-day moving average of $199.02 and a 200-day moving average of $199.34.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The conglomerate reported $2.08 EPS for the quarter, beating the consensus estimate of $1.92 by $0.16. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.39 billion. ITT had a return on equity of 15.90% and a net margin of 8.90%.The firm's quarterly revenue was up 51.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Equities research analysts forecast that ITT Inc. will post 8.25 EPS for the current fiscal year.

ITT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.386 per share. The ex-dividend date is Tuesday, September 8th. This represents a $1.54 annualized dividend and a dividend yield of 0.7%. ITT's dividend payout ratio is 30.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ITT shares. Robert W. Baird set a $246.00 price objective on ITT in a research note on Thursday, May 7th. Barclays raised their price target on shares of ITT from $210.00 to $230.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Stifel Nicolaus boosted their price objective on shares of ITT from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, July 20th. DA Davidson upped their price objective on shares of ITT from $255.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Finally, Wolfe Research upgraded shares of ITT from a "peer perform" rating to an "outperform" rating and set a $229.00 target price for the company in a research report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, ITT presently has an average rating of "Moderate Buy" and an average target price of $241.08.

Insider Buying and Selling at ITT

In related news, CAO Mesa Graziano Cheryl De sold 700 shares of ITT stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the completion of the sale, the chief accounting officer owned 7,159 shares of the company's stock, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company's stock.

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.

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