Bank of New York Mellon Corp trimmed its stake in ITT Inc (NYSE:ITT) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,070,144 shares of the conglomerate’s stock after selling 31,450 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.24% of ITT worth $48,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of ITT by 2.2% in the fourth quarter. FMR LLC now owns 6,078,068 shares of the conglomerate’s stock valued at $449,230,000 after buying an additional 130,429 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of ITT by 25.1% in the fourth quarter. Macquarie Group Ltd. now owns 2,850,402 shares of the conglomerate’s stock valued at $210,674,000 after buying an additional 572,459 shares during the last quarter. Boston Partners lifted its position in shares of ITT by 3.6% in the fourth quarter. Boston Partners now owns 2,741,145 shares of the conglomerate’s stock valued at $202,612,000 after buying an additional 94,700 shares during the last quarter. Norges Bank acquired a new stake in shares of ITT in the fourth quarter valued at approximately $78,517,000. Finally, Geode Capital Management LLC lifted its position in shares of ITT by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 1,049,420 shares of the conglomerate’s stock valued at $77,562,000 after buying an additional 51,379 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

ITT stock opened at $54.26 on Friday. The stock’s fifty day moving average price is $49.32 and its two-hundred day moving average price is $61.75. ITT Inc has a one year low of $35.41 and a one year high of $75.56. The firm has a market cap of $4.64 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 3.06 and a beta of 1.59.

ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, May 1st. The conglomerate reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. ITT had a return on equity of 16.26% and a net margin of 12.03%. The firm had revenue of $663.30 million for the quarter, compared to analyst estimates of $631.89 million. During the same quarter last year, the company earned $0.91 EPS. The company’s revenue was down 4.6% on a year-over-year basis. On average, equities analysts expect that ITT Inc will post 2.54 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.169 per share. The ex-dividend date is Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. ITT’s dividend payout ratio (DPR) is presently 17.85%.

ITT has been the subject of a number of recent analyst reports. ValuEngine raised ITT from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. TheStreet cut ITT from a “b-” rating to a “c+” rating in a research report on Friday, April 3rd. Oppenheimer dropped their price target on ITT from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Sunday, May 3rd. Stifel Nicolaus dropped their price target on ITT from $84.00 to $52.00 in a report on Sunday, April 19th. Finally, UBS Group lifted their price target on ITT from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ITT has a consensus rating of “Buy” and an average price target of $66.38.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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