Q1 2024 EPS Estimates for ITT Inc. Raised by Zacks Research (NYSE:ITT)

ITT Inc. (NYSE:ITT) – Analysts at Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for ITT in a report issued on Tuesday, April 30th. Zacks Research analyst R. Department now expects that the conglomerate will post earnings per share of $1.35 for the quarter, up from their previous forecast 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 posted its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, meeting analysts’ consensus estimates of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company had revenue of $829.10 million for the quarter, compared to analysts’ expectations of $814.38 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. ITT’s revenue for the quarter was up 7.0% compared to the same quarter last year.

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

ITT Stock Down 0.0 %

Shares of NYSE ITT opened at $129.29 on Thursday. ITT has a 52-week low of $75.82 and a 52-week high of $138.29. The business’s 50 day moving average is $129.28 and its two-hundred day moving average is $118.21. The firm has a market cap of $10.64 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.77 and a beta of 1.43.

Institutional Investors Weigh In On ITT

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in ITT by 63.4% in the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 118 shares during the last quarter. Rise Advisors LLC increased its position in shares of ITT by 788.5% during the first quarter. Rise Advisors LLC now owns 231 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 205 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock valued at $48,000 after purchasing an additional 204 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of ITT by 81.7% in the 3rd quarter. Clearstead Advisors LLC now owns 556 shares of the conglomerate’s stock valued at $54,000 after purchasing an additional 250 shares during the period. Finally, Tradewinds Capital Management LLC purchased a new position in ITT during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a $0.319 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is presently 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.