Analysts predict that ITT Inc. (NYSE:ITT) will post sales of $627.27 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for ITT’s earnings. The highest sales estimate is $641.10 million and the lowest is $614.00 million. ITT reported sales of $626.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.2%. The firm is expected to issue its next earnings report before the market opens on Friday, August 4th.

On average, analysts expect that ITT will report full-year sales of $627.27 million for the current financial year, with estimates ranging from $2.44 billion to $2.52 billion. For the next year, analysts expect that the firm will report sales of $2.64 billion per share, with estimates ranging from $2.57 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ITT.

ITT (NYSE:ITT) last announced its earnings results on Monday, May 8th. The conglomerate reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company had revenue of $625.80 million during the quarter, compared to analyst estimates of $607.08 million. ITT had a net margin of 8.04% and a return on equity of 14.65%. ITT’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share.

A number of research firms have recently commented on ITT. BidaskClub downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, July 18th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Goldman Sachs Group, Inc. (The) downgraded shares of ITT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $46.00 to $43.00 in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. ITT currently has an average rating of “Buy” and an average target price of $46.57.

Hedge funds have recently modified their holdings of the company. World Asset Management Inc boosted its stake in shares of ITT by 0.3% in the first quarter. World Asset Management Inc now owns 5,487 shares of the conglomerate’s stock worth $225,000 after buying an additional 19 shares during the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of ITT by 0.6% in the first quarter. United Capital Financial Advisers LLC now owns 6,600 shares of the conglomerate’s stock worth $271,000 after buying an additional 42 shares during the last quarter. Baker Ellis Asset Management LLC boosted its stake in shares of ITT by 0.5% in the first quarter. Baker Ellis Asset Management LLC now owns 25,349 shares of the conglomerate’s stock worth $1,040,000 after buying an additional 125 shares during the last quarter. Albert D Mason Inc. boosted its stake in shares of ITT by 0.7% in the first quarter. Albert D Mason Inc. now owns 30,329 shares of the conglomerate’s stock worth $1,244,000 after buying an additional 200 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its stake in shares of ITT by 3.1% in the first quarter. 1st Global Advisors Inc. now owns 6,830 shares of the conglomerate’s stock worth $280,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Shares of ITT (ITT) traded down 1.28% on Wednesday, reaching $41.62. 10,329 shares of the company’s stock traded hands. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 19.18 and a beta of 1.47. The stock’s 50-day moving average price is $40.15 and its 200-day moving average price is $40.60. ITT has a 52 week low of $31.08 and a 52 week high of $44.00.

The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 12th were issued a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, June 8th. ITT’s payout ratio is currently 23.50%.

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ITT Company Profile

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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Earnings History and Estimates for ITT (NYSE:ITT)

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