ITT Inc. (ITT) Expected to Announce Quarterly Sales of $634.42 Million
Equities analysts expect ITT Inc. (NYSE:ITT) to announce sales of $634.42 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for ITT’s earnings. The lowest sales estimate is $617.60 million and the highest is $648.34 million. ITT posted sales of $588.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The company is expected to issue its next quarterly earnings report on Tuesday, February 13th.
On average, analysts expect that ITT will report full-year sales of $634.42 million for the current financial year, with estimates ranging from $2.52 billion to $2.55 billion. For the next year, analysts expect that the company will post sales of $2.72 billion per share, with estimates ranging from $2.66 billion to $2.80 billion. Zacks’ sales averages are an average based on a survey of research firms that cover ITT.
ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $605.06 million. ITT had a return on equity of 14.12% and a net margin of 8.29%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share.
In other ITT news, VP Steven C. Giuliano sold 5,860 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $50.94, for a total value of $298,508.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary Elizabeth Gustafsson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The disclosure for this sale can be found here. Insiders have sold 176,960 shares of company stock valued at $8,845,462 in the last ninety days. 1.20% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Pinnacle Financial Partners Inc. acquired a new stake in ITT in the second quarter valued at approximately $105,000. Riverhead Capital Management LLC grew its stake in ITT by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 1,059 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 314 shares during the period. Stevens First Principles Investment Advisors acquired a new stake in ITT in the third quarter valued at approximately $137,000. Finally, Huntington National Bank acquired a new stake in ITT in the third quarter valued at approximately $191,000. 92.51% of the stock is owned by hedge funds and other institutional investors.
Shares of ITT (NYSE ITT) traded up $0.31 during mid-day trading on Thursday, hitting $54.20. The stock had a trading volume of 458,713 shares, compared to its average volume of 581,288. The firm has a market capitalization of $4,740.00, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.53. ITT has a 12 month low of $36.93 and a 12 month high of $54.50.
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. The ex-dividend date is Thursday, December 7th. This represents a $0.51 annualized dividend and a yield of 0.94%. ITT’s dividend payout ratio is currently 22.37%.
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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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