Bank of New York Mellon Corp Has $133.03 Million Stock Holdings in ITT Inc. $ITT

Bank of New York Mellon Corp boosted its position in ITT Inc. (NYSE:ITT) by 6.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 744,188 shares of the conglomerate’s stock after purchasing an additional 43,336 shares during the period. Bank of New York Mellon Corp’s holdings in ITT were worth $133,031,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Financial Gravity Companies Inc. acquired a new stake in shares of ITT in the second quarter valued at approximately $27,000. True Wealth Design LLC raised its stake in ITT by 219.2% in the 3rd quarter. True Wealth Design LLC now owns 166 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 114 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in ITT during the 2nd quarter valued at $34,000. Quent Capital LLC bought a new position in ITT during the third quarter worth $37,000. Finally, MTM Investment Management LLC acquired a new position in shares of ITT in the second quarter valued at $39,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mesa Graziano Cheryl De sold 238 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.08, for a total transaction of $43,573.04. Following the completion of the sale, the chief accounting officer owned 5,062 shares of the company’s stock, valued at $926,750.96. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

ITT Trading Down 1.4%

Shares of ITT stock opened at $182.10 on Friday. The stock has a market cap of $15.67 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37. ITT Inc. has a 1 year low of $105.64 and a 1 year high of $197.07. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $179.21 and a 200 day simple moving average of $175.83.

ITT (NYSE:ITT) last announced its quarterly earnings data on Wednesday, October 29th. The conglomerate reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.11. The firm had revenue of $999.10 million during the quarter, compared to analysts’ expectations of $973.69 million. ITT had a return on equity of 18.96% and a net margin of 12.67%.The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. On average, research analysts predict that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITT shares. KeyCorp raised their target price on shares of ITT from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of ITT in a research report on Thursday, January 22nd. Wall Street Zen downgraded ITT from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Citigroup increased their target price on ITT from $207.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus reduced their price target on ITT from $225.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $206.25.

ITT 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.