$634.61 Million in Sales Expected for ITT Inc. (ITT) This Quarter

Brokerages expect that ITT Inc. (NYSE:ITT) will report $634.61 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for ITT’s earnings, with estimates ranging from $617.60 million to $648.34 million. ITT reported sales of $588.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.9%. The firm is expected to report its next quarterly earnings report on Tuesday, February 13th.

On average, analysts expect that ITT will report full-year sales of $634.61 million for the current fiscal year, with estimates ranging from $2.52 billion to $2.55 billion. For the next year, analysts anticipate that the business will post sales of $2.74 billion per share, with estimates ranging from $2.68 billion to $2.80 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow ITT.

ITT (NYSE:ITT) last announced its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. ITT had a net margin of 8.29% and a return on equity of 14.12%. The business had revenue of $645.00 million during the quarter, compared to analyst estimates of $605.06 million. During the same period last year, the firm posted $0.58 EPS. The company’s revenue was up 10.9% on a year-over-year basis.

A number of equities research analysts have issued reports on ITT shares. Robert W. Baird reaffirmed a “buy” rating and set a $51.00 price objective on shares of ITT in a report on Wednesday, October 4th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday. Seaport Global Securities reaffirmed a “buy” rating on shares of ITT in a report on Monday, November 6th. Oppenheimer reaffirmed a “buy” rating and set a $60.00 price objective on shares of ITT in a report on Thursday. Finally, KeyCorp reaffirmed a “buy” rating on shares of ITT in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.14.

Shares of ITT (NYSE:ITT) opened at $56.28 on Friday. ITT has a fifty-two week low of $36.93 and a fifty-two week high of $56.30. The stock has a market cap of $4,870.00, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.59.

In related news, CFO Thomas M. Scalera sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $50.98, for a total value of $254,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise L. Ramos sold 161,100 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $50.14, for a total transaction of $8,077,554.00. Following the completion of the transaction, the insider now directly owns 283,032 shares of the company’s stock, valued at $14,191,224.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,960 shares of company stock valued at $8,630,962. 1.20% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR grew its holdings in shares of ITT by 2.4% in the second quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock valued at $222,000 after purchasing an additional 130 shares in the last quarter. Petrus Trust Company LTA boosted its stake in ITT by 3.8% during the second quarter. Petrus Trust Company LTA now owns 6,861 shares of the conglomerate’s stock worth $276,000 after buying an additional 252 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ITT by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after buying an additional 314 shares during the period. Ameritas Investment Partners Inc. boosted its stake in ITT by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 26,533 shares of the conglomerate’s stock worth $1,066,000 after buying an additional 533 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in ITT by 17.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,120 shares of the conglomerate’s stock worth $246,000 after buying an additional 914 shares during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.

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About ITT

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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