Analysts expect ITT Inc (NYSE:ITT) to announce $698.41 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for ITT’s earnings. The highest sales estimate is $710.00 million and the lowest is $692.30 million. ITT posted sales of $683.60 million during the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The company is scheduled to issue its next earnings results on Friday, February 15th.
According to Zacks, analysts expect that ITT will report full-year sales of $2.77 billion for the current year, with estimates ranging from $2.76 billion to $2.78 billion. For the next year, analysts expect that the business will post sales of $2.90 billion, with estimates ranging from $2.86 billion to $2.95 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for ITT.
ITT (NYSE:ITT) last announced its earnings results on Friday, November 2nd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $680.60 million for the quarter, compared to analysts’ expectations of $677.36 million. ITT had a net margin of 7.80% and a return on equity of 16.10%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS.
ITT has been the topic of several recent research reports. Oppenheimer set a $68.00 target price on shares of ITT and gave the company a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research upgraded shares of ITT from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, November 13th. ValuEngine downgraded shares of ITT from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Gordon Haskett began coverage on shares of ITT in a report on Friday, October 12th. They set a “buy” rating on the stock. Finally, Robert W. Baird reiterated a “buy” rating and set a $65.00 price target on shares of ITT in a report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $66.25.
Shares of NYSE ITT opened at $50.59 on Friday. The stock has a market cap of $4.61 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.73. ITT has a 12-month low of $46.10 and a 12-month high of $63.04.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a dividend of $0.134 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.54 annualized dividend and a yield of 1.06%. ITT’s payout ratio is 20.85%.
Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings in ITT by 180.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 280,100 shares of the conglomerate’s stock valued at $17,159,000 after purchasing an additional 180,275 shares during the last quarter. Bank of America Corp DE grew its stake in ITT by 2.5% in the 2nd quarter. Bank of America Corp DE now owns 1,055,247 shares of the conglomerate’s stock worth $55,157,000 after acquiring an additional 25,508 shares in the last quarter. Sun Life Financial INC bought a new position in ITT in the 2nd quarter worth about $375,000. BlackRock Inc. grew its stake in ITT by 1.3% in the 2nd quarter. BlackRock Inc. now owns 7,747,776 shares of the conglomerate’s stock worth $404,973,000 after acquiring an additional 100,364 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in ITT by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 62,200 shares of the conglomerate’s stock worth $3,810,000 after acquiring an additional 1,520 shares in the last quarter. Institutional investors own 91.17% of the company’s stock.
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: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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