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

ITT Inc. (NYSE:ITT) – Stock analysts at Zacks Research raised their Q1 2024 EPS estimates for shares of ITT in a report issued on Tuesday, April 30th. Zacks Research analyst R. Department now forecasts that the conglomerate will earn $1.35 per share for the quarter, up from their previous estimate of $1.34. The consensus estimate for ITT’s current full-year earnings is $5.80 per share. Zacks Research also issued estimates for ITT’s FY2024 earnings at $5.69 EPS, Q2 2025 earnings at $1.59 EPS, FY2025 earnings at $6.48 EPS and FY2026 earnings at $7.46 EPS.

ITT (NYSE:ITT) last issued its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a return on equity of 17.91% and a net margin of 12.50%. The business had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. ITT’s revenue for the quarter was up 14.1% compared to the same quarter last year.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup raised their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. DA Davidson increased their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, March 26th. KeyCorp boosted their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, ITT presently has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Price Performance

NYSE ITT opened at $128.28 on Thursday. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 1.77 and a beta of 1.43. The company has a 50 day simple moving average of $129.40 and a 200-day simple moving average of $118.33. ITT has a 52-week low of $75.82 and a 52-week high of $138.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ITT. IFP Advisors Inc boosted its stake in ITT by 63.4% during the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after buying an additional 118 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of ITT by 30.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,076 shares of the conglomerate’s stock valued at $105,000 after acquiring an additional 253 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in ITT by 6.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,815 shares of the conglomerate’s stock valued at $374,000 after acquiring an additional 216 shares during the period. Dakota Wealth Management lifted its stake in ITT by 22.3% during the third quarter. Dakota Wealth Management now owns 6,927 shares of the conglomerate’s stock worth $678,000 after purchasing an additional 1,265 shares during the period. Finally, Tectonic Advisors LLC bought a new stake in shares of ITT in the 3rd quarter valued at approximately $295,000. Institutional investors own 91.59% of the company’s stock.

ITT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.319 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a yield of 0.99%. ITT’s dividend payout ratio is 25.81%.

ITT Company Profile

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.