Bank of New York Mellon Corp Grows Stock Holdings in ITT Inc. (NYSE:ITT)

Bank of New York Mellon Corp increased its position in ITT Inc. (NYSE:ITT) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 761,599 shares of the conglomerate’s stock after buying an additional 3,727 shares during the period. Bank of New York Mellon Corp owned about 0.93% of ITT worth $108,817,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of ITT in the third quarter valued at about $26,000. Resources Management Corp CT ADV purchased a new position in ITT in the 3rd quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in ITT in the 4th quarter worth approximately $30,000. Private Trust Co. NA grew its holdings in ITT by 232.2% during the 3rd quarter. Private Trust Co. NA now owns 299 shares of the conglomerate’s stock valued at $45,000 after buying an additional 209 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of ITT during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of research reports. UBS Group upped their target price on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup dropped their price objective on shares of ITT from $183.00 to $181.00 and set a “buy” rating for the company in a report on Monday, January 13th. KeyCorp lifted their target price on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Wolfe Research assumed coverage on ITT in a research note on Wednesday, December 11th. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus reduced their price objective on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and an average price target of $168.38.

ITT Trading Up 0.3 %

Shares of NYSE ITT opened at $141.06 on Friday. ITT Inc. has a 1-year low of $121.01 and a 1-year high of $161.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.40 and a quick ratio of 0.96. The business’s 50 day moving average is $145.87 and its two-hundred day moving average is $145.92. The stock has a market capitalization of $11.48 billion, a P/E ratio of 22.39, a PEG ratio of 1.89 and a beta of 1.41.

ITT (NYSE:ITT) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, research analysts expect that ITT Inc. will post 6.51 EPS for the current year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 6th will be issued a $0.351 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, March 6th. This is a positive change from ITT’s previous quarterly dividend of $0.32. ITT’s dividend payout ratio (DPR) is 22.22%.

ITT Company 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.