Brokerages expect ITT Inc (NYSE:ITT) to announce earnings of $0.73 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for ITT’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.81. ITT reported earnings of $0.93 per share in the same quarter last year, which indicates a negative year over year growth rate of 21.5%. The business is scheduled to issue its next earnings results on Friday, August 7th.
According to Zacks, analysts expect that ITT will report full-year earnings of $2.54 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.72. For the next year, analysts forecast that the company will post earnings of $3.06 per share, with EPS estimates ranging from $2.85 to $3.35. Zacks’ EPS averages are an average based on a survey of analysts that cover ITT.
ITT (NYSE:ITT) last announced its quarterly earnings results on Friday, May 1st. The conglomerate reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. ITT had a net margin of 12.03% and a return on equity of 16.26%. The firm had revenue of $663.30 million during the quarter, compared to the consensus estimate of $631.89 million. During the same period last year, the firm posted $0.91 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis.
Several equities research analysts have recently commented on the stock. DA Davidson reiterated a “buy” rating and set a $70.00 price target (down previously from $85.00) on shares of ITT in a research report on Friday, March 27th. Oppenheimer decreased their price objective on shares of ITT from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Sunday, May 3rd. TheStreet upgraded shares of ITT from a “c+” rating to a “b-” rating in a report on Tuesday, June 2nd. UBS Group boosted their price objective on shares of ITT from $64.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, ValuEngine upgraded shares of ITT from a “sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ITT currently has a consensus rating of “Buy” and an average target price of $66.38.
ITT traded up $0.27 during midday trading on Tuesday, hitting $58.65. The company had a trading volume of 8,527 shares, compared to its average volume of 718,505. The company has a market capitalization of $4.91 billion, a PE ratio of 15.35, a P/E/G ratio of 3.23 and a beta of 1.60. ITT has a twelve month low of $35.41 and a twelve month high of $75.56. The firm’s 50-day simple moving average is $55.74 and its 200-day simple moving average is $59.55.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a $0.169 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, June 12th. ITT’s payout ratio is currently 17.85%.
In other ITT news, Director Orlando D. Ashford sold 4,000 shares of ITT stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the transaction, the director now owns 18,277 shares of the company’s stock, valued at $1,153,095.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Farrokh Batliwala sold 2,500 shares of ITT stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $65.00, for a total transaction of $162,500.00. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP lifted its position in shares of ITT by 262.9% in the first quarter. First Trust Advisors LP now owns 49,852 shares of the conglomerate’s stock worth $2,891,000 after purchasing an additional 36,114 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of ITT by 5.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 96,018 shares of the conglomerate’s stock worth $5,569,000 after purchasing an additional 4,720 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of ITT by 215.0% in the fourth quarter. Victory Capital Management Inc. now owns 64,222 shares of the conglomerate’s stock worth $4,747,000 after purchasing an additional 43,832 shares in the last quarter. Bank of Montreal Can lifted its position in shares of ITT by 48.6% in the fourth quarter. Bank of Montreal Can now owns 48,981 shares of the conglomerate’s stock worth $3,621,000 after purchasing an additional 16,020 shares in the last quarter. Finally, Alphasimplex Group LLC bought a new stake in shares of ITT in the fourth quarter worth $1,076,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.
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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