Wall Street brokerages expect ITT Inc (NYSE:ITT) to post sales of $678.44 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for ITT’s earnings, with the highest sales estimate coming in at $689.00 million and the lowest estimate coming in at $668.00 million. ITT reported sales of $689.30 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings report on Friday, May 3rd.
According to Zacks, analysts expect that ITT will report full-year sales of $2.83 billion for the current year, with estimates ranging from $2.81 billion to $2.85 billion. For the next year, analysts anticipate that the firm will post sales of $2.97 billion, with estimates ranging from $2.93 billion to $3.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow ITT.
ITT (NYSE:ITT) last released its quarterly earnings data on Friday, February 22nd. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. The firm had revenue of $678.40 million during the quarter, compared to analysts’ expectations of $700.53 million. ITT had a return on equity of 16.50% and a net margin of 12.16%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share.
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of ITT by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,447,321 shares of the conglomerate’s stock worth $517,482,000 after buying an additional 125,376 shares during the last quarter. Vanguard Group Inc lifted its position in shares of ITT by 1.5% in the third quarter. Vanguard Group Inc now owns 8,447,321 shares of the conglomerate’s stock worth $517,482,000 after buying an additional 125,376 shares during the last quarter. BlackRock Inc. lifted its position in shares of ITT by 2.7% in the third quarter. BlackRock Inc. now owns 7,956,878 shares of the conglomerate’s stock worth $487,437,000 after buying an additional 209,102 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of ITT by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,691,318 shares of the conglomerate’s stock worth $129,910,000 after buying an additional 24,311 shares during the last quarter. Finally, Boston Partners lifted its position in shares of ITT by 18.0% during the 4th quarter. Boston Partners now owns 2,658,607 shares of the conglomerate’s stock worth $128,331,000 after purchasing an additional 405,815 shares during the last quarter. 92.00% of the stock is owned by institutional investors.
ITT opened at $59.59 on Tuesday. The firm has a market cap of $5.07 billion, a P/E ratio of 18.45, a PEG ratio of 1.82 and a beta of 1.64. ITT has a 1 year low of $44.89 and a 1 year high of $63.04.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $0.147 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from ITT’s previous quarterly dividend of $0.13. ITT’s payout ratio is currently 18.27%.
ITT Company Profile
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: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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