Nomura Holdings Inc. Grows Position in ITT Inc. (ITT)
Nomura Holdings Inc. increased its holdings in ITT Inc. (NYSE:ITT) by 134.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,460 shares of the conglomerate’s stock after acquiring an additional 7,718 shares during the quarter. Nomura Holdings Inc.’s holdings in ITT were worth $541,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ITT. UBS Asset Management Americas Inc. lifted its stake in ITT by 20.0% in the first quarter. UBS Asset Management Americas Inc. now owns 69,398 shares of the conglomerate’s stock worth $2,847,000 after acquiring an additional 11,580 shares during the period. Karp Capital Management Corp purchased a new stake in ITT in the first quarter worth about $518,000. Raymond James Financial Services Advisors Inc. purchased a new stake in ITT in the first quarter worth about $214,000. Envestnet Asset Management Inc. lifted its stake in ITT by 11.3% in the first quarter. Envestnet Asset Management Inc. now owns 6,462 shares of the conglomerate’s stock worth $264,000 after acquiring an additional 654 shares during the period. Finally, Prudential Financial Inc. lifted its stake in ITT by 6.3% in the first quarter. Prudential Financial Inc. now owns 54,383 shares of the conglomerate’s stock worth $2,231,000 after acquiring an additional 3,240 shares during the period. 92.58% of the stock is owned by institutional investors.
ITT Inc. (ITT) opened at 46.92 on Friday. The company has a market capitalization of $4.13 billion, a P/E ratio of 20.09 and a beta of 1.48. ITT Inc. has a one year low of $32.46 and a one year high of $47.09. The firm has a 50-day moving average of $43.80 and a 200-day moving average of $41.11.
ITT (NYSE:ITT) last posted its earnings results on Friday, August 4th. The conglomerate reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a return on equity of 14.17% and a net margin of 8.64%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, analysts anticipate that ITT Inc. will post $2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, December 7th. ITT’s payout ratio is 21.70%.
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ITT has been the subject of a number of research reports. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price objective on shares of ITT in a research note on Wednesday, August 16th. Zacks Investment Research lowered shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Deutsche Bank AG upgraded shares of ITT from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $55.00 in a report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. ITT presently has a consensus rating of “Buy” and an average price target of $48.50.
In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.90, for a total transaction of $214,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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