Zacks Research Equities Analysts Raise Earnings Estimates for ITT Inc. (NYSE:ITT)

ITT Inc. (NYSE:ITTFree Report) – Equities researchers at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of ITT in a research report issued on Tuesday, June 11th. Zacks Research analyst R. Department now expects that the conglomerate will post earnings of $1.44 per share for the quarter, up from their prior forecast of $1.43. The consensus estimate for ITT’s current full-year earnings is $5.85 per share. Zacks Research also issued estimates for ITT’s FY2024 earnings at $5.80 EPS, Q4 2025 earnings at $1.77 EPS, FY2025 earnings at $6.53 EPS and FY2026 earnings at $7.51 EPS.

Other equities analysts have also recently issued reports about the company. UBS Group lifted their price target on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus lifted their price target on ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. KeyCorp lifted their price target on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. DA Davidson lifted their price target on ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Finally, Citigroup boosted their target price on ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $138.38.

Check Out Our Latest Stock Analysis on ITT

ITT Price Performance

Shares of ITT stock opened at $129.84 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.08. The business’s 50 day simple moving average is $131.88 and its two-hundred day simple moving average is $125.23. The stock has a market capitalization of $10.69 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. ITT has a one year low of $85.92 and a one year high of $140.20.

ITT (NYSE:ITTGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS.

Institutional Investors Weigh In On ITT

Hedge funds have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board bought a new stake in shares of ITT during the fourth quarter valued at approximately $992,000. Norges Bank bought a new stake in shares of ITT during the fourth quarter valued at approximately $102,709,000. Natixis Advisors L.P. boosted its position in shares of ITT by 28.7% during the third quarter. Natixis Advisors L.P. now owns 74,409 shares of the conglomerate’s stock valued at $7,286,000 after purchasing an additional 16,614 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ITT during the fourth quarter valued at approximately $951,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of ITT by 11.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,013 shares of the conglomerate’s stock valued at $717,000 after purchasing an additional 611 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors.

ITT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.319 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. ITT’s dividend payout ratio (DPR) is presently 24.90%.

About ITT

(Get Free Report)

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.

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Earnings History and Estimates for ITT (NYSE:ITT)

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