Q1 2024 EPS Estimates for ITT Inc. (NYSE:ITT) Lifted by Analyst

ITT Inc. (NYSE:ITT) – Analysts at Zacks Research upped their Q1 2024 EPS estimates for ITT in a report issued on Tuesday, April 30th. Zacks Research analyst R. Department now forecasts that the conglomerate will post earnings per share of $1.35 for the quarter, up from their prior 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.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. Stifel Nicolaus increased their price objective on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. DA Davidson boosted 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 increased their price target on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup upped their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $135.57.

ITT Stock Performance

Shares of ITT stock opened at $128.28 on Thursday. The company has a market capitalization of $10.55 billion, a PE ratio of 25.86, a P/E/G ratio of 1.77 and a beta of 1.43. The company has a 50-day simple moving average of $129.40 and a two-hundred day simple moving average of $118.33. ITT has a one year low of $75.82 and a one year high of $138.29.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Natixis Advisors L.P. increased its stake in shares of ITT by 28.7% in the 3rd 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. Assenagon Asset Management S.A. raised its position in ITT by 198.0% during the third quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock worth $6,302,000 after acquiring an additional 42,767 shares during the period. Raymond James & Associates grew its position in shares of ITT by 17.0% in the fourth quarter. Raymond James & Associates now owns 74,618 shares of the conglomerate’s stock valued at $8,903,000 after purchasing an additional 10,853 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of ITT by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in ITT by 46.6% in the 3rd quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock valued at $60,130,000 after buying an additional 195,111 shares in the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

ITT Announces Dividend

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 dividend of $0.319 per share. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date is Monday, June 3rd. ITT’s dividend payout ratio is currently 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.