Nomura Holdings Inc. Invests $1.55 Million in ITT Inc. (NYSE:ITT)

Nomura Holdings Inc. acquired a new stake in ITT Inc. (NYSE:ITT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,814 shares of the conglomerate's stock, valued at approximately $1,545,000.

Several other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC increased its stake in shares of ITT by 36.8% in the 4th quarter. Park Avenue Securities LLC now owns 4,302 shares of the conglomerate's stock valued at $615,000 after purchasing an additional 1,157 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in ITT by 3.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 12,055 shares of the conglomerate's stock valued at $1,722,000 after buying an additional 385 shares in the last quarter. CGN Advisors LLC bought a new position in ITT in the fourth quarter valued at about $1,204,000. UMB Bank n.a. grew its position in ITT by 95.8% in the fourth quarter. UMB Bank n.a. now owns 464 shares of the conglomerate's stock valued at $66,000 after acquiring an additional 227 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in ITT by 0.3% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 136,800 shares of the conglomerate's stock worth $19,546,000 after acquiring an additional 390 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ITT shares. Stifel Nicolaus raised their price target on shares of ITT from $161.00 to $171.00 and gave the company a "buy" rating in a research note on Friday, May 16th. UBS Group raised their target price on shares of ITT from $165.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Citigroup decreased their target price on shares of ITT from $181.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded ITT from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, KeyCorp raised their price objective on ITT from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ITT currently has an average rating of "Moderate Buy" and an average target price of $165.50.

ITT Trading Down 0.7%

Shares of ITT stock traded down $1.10 during trading hours on Friday, hitting $147.16. 63,291 shares of the company's stock traded hands, compared to its average volume of 454,127. The stock has a market cap of $11.58 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.89 and a beta of 1.36. The stock's 50 day simple moving average is $134.89 and its 200 day simple moving average is $142.97. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT Inc. has a 12 month low of $105.64 and a 12 month high of $161.13.

ITT (NYSE:ITT - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.01. The business had revenue of $913.00 million during the quarter, compared to the consensus estimate of $901.22 million. ITT had a return on equity of 18.03% and a net margin of 14.27%. ITT's quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share. On average, sell-side analysts anticipate that ITT Inc. will post 6.51 EPS for the current year.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $0.351 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Monday, June 2nd. ITT's dividend payout ratio is currently 22.26%.

ITT 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.