Brokers Offer Predictions for ITT Inc.’s Q1 2024 Earnings (NYSE:ITT)

ITT Inc. (NYSE:ITT) – Equities research analysts at DA Davidson upped their Q1 2024 earnings per share estimates for ITT in a report released on Wednesday, March 27th. DA Davidson analyst M. Summerville now anticipates that the conglomerate will post earnings per share of $1.40 for the quarter, up from their prior estimate of $1.35. DA Davidson currently has a “Buy” rating and a $155.00 price target on the stock. The consensus estimate for ITT’s current full-year earnings is $5.76 per share. DA Davidson also issued estimates for ITT’s FY2025 earnings at $6.75 EPS.

ITT has been the topic of several other reports. StockNews.com lowered ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Citigroup boosted their price target on ITT from $122.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Stifel Nicolaus boosted their price objective on ITT from $122.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $124.57.

ITT Stock Performance

Shares of ITT opened at $136.03 on Thursday. ITT has a 52-week low of $75.82 and a 52-week high of $138.29. The business’s 50 day moving average price is $125.80 and its two-hundred day moving average price is $112.84. The firm has a market cap of $11.17 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.42.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. The company had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of ITT by 8.2% during the 4th quarter. Signaturefd LLC now owns 1,150 shares of the conglomerate’s stock valued at $137,000 after buying an additional 87 shares during the last quarter. State of Michigan Retirement System lifted its holdings in ITT by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 19,729 shares of the conglomerate’s stock worth $2,354,000 after purchasing an additional 100 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in ITT by 3.8% during the 4th quarter. Kestra Advisory Services LLC now owns 2,821 shares of the conglomerate’s stock worth $337,000 after purchasing an additional 103 shares in the last quarter. Round Rock Advisors LLC lifted its holdings in ITT by 0.5% during the 4th quarter. Round Rock Advisors LLC now owns 20,183 shares of the conglomerate’s stock worth $2,408,000 after purchasing an additional 104 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in ITT by 3.9% during the 2nd quarter. Franklin Resources Inc. now owns 2,766 shares of the conglomerate’s stock worth $258,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is 25.81%.

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.