ITT Inc. (NYSE:ITT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in ITT Inc. (NYSE:ITT - Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 761,599 shares of the conglomerate's stock after buying an additional 3,727 shares during the quarter. Bank of New York Mellon Corp owned about 0.93% of ITT worth $108,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. purchased a new position in ITT in the 3rd quarter worth approximately $67,503,000. TimesSquare Capital Management LLC grew its holdings in ITT by 34.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 198,550 shares of the conglomerate's stock valued at $28,369,000 after purchasing an additional 50,384 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in ITT during the 3rd quarter worth $7,075,000. Polar Asset Management Partners Inc. lifted its holdings in ITT by 68.9% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 111,000 shares of the conglomerate's stock worth $16,596,000 after buying an additional 45,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in ITT by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 306,516 shares of the conglomerate's stock worth $45,827,000 after buying an additional 40,860 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Stock Performance

ITT stock traded up $4.80 during trading on Wednesday, hitting $139.04. 820,574 shares of the company's stock traded hands, compared to its average volume of 422,099. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42. ITT Inc. has a 52 week low of $121.01 and a 52 week high of $161.13. The stock has a fifty day moving average price of $145.56 and a two-hundred day moving average price of $146.00. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08.

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ITT (NYSE:ITT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. As a group, equities analysts anticipate that ITT Inc. will post 6.51 EPS for the current fiscal year.

ITT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 6th will be issued a $0.351 dividend. This is an increase from ITT's previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.01%. ITT's dividend payout ratio (DPR) is 22.22%.

Analyst Upgrades and Downgrades

ITT has been the topic of a number of analyst reports. StockNews.com raised ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on ITT from $180.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Wolfe Research started coverage on ITT in a research note on Wednesday, December 11th. They set a "peer perform" rating for the company. Citigroup dropped their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Finally, KeyCorp increased their price objective on shares of ITT from $164.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.38.

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.