Bank of New York Mellon Corp Sells 2,737 Shares of ITT Inc. (NYSE:ITT)

Bank of New York Mellon Corp lessened its position in shares of ITT Inc. (NYSE:ITT - Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 758,862 shares of the conglomerate's stock after selling 2,737 shares during the period. Bank of New York Mellon Corp owned 0.94% of ITT worth $98,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ITT. Merit Financial Group LLC purchased a new stake in ITT during the first quarter valued at about $273,000. AlphaQuest LLC boosted its holdings in ITT by 422.7% in the 4th quarter. AlphaQuest LLC now owns 4,208 shares of the conglomerate's stock worth $601,000 after buying an additional 3,403 shares during the period. Intech Investment Management LLC boosted its holdings in ITT by 218.0% in the 4th quarter. Intech Investment Management LLC now owns 14,051 shares of the conglomerate's stock worth $2,008,000 after buying an additional 9,633 shares during the period. Assenagon Asset Management S.A. grew its stake in ITT by 19.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,551 shares of the conglomerate's stock valued at $2,267,000 after buying an additional 2,917 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in ITT by 10.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 29,831 shares of the conglomerate's stock valued at $3,853,000 after acquiring an additional 2,765 shares during the period. Institutional investors own 91.59% of the company's stock.

ITT Stock Up 0.1%

NYSE:ITT traded up $0.15 during midday trading on Thursday, hitting $157.77. The company had a trading volume of 521,592 shares, compared to its average volume of 457,773. The company has a market capitalization of $12.42 billion, a PE ratio of 25.08, a P/E/G ratio of 2.00 and a beta of 1.35. ITT Inc. has a 52-week low of $105.64 and a 52-week high of $161.79. The stock's fifty day moving average price is $151.36 and its 200-day moving average price is $143.07.

ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The company had revenue of $913.00 million for the quarter, compared to analysts' expectations of $901.22 million. ITT had a return on equity of 17.75% and a net margin of 14.19%. ITT's revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. As a group, research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.351 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Monday, June 2nd. ITT's dividend payout ratio (DPR) is presently 22.26%.

Wall Street Analyst Weigh In

ITT has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on ITT from $160.00 to $177.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Bank of America upped their price target on ITT from $145.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus raised their price objective on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Citigroup decreased their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen raised shares of ITT from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $165.50.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.