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

ITT Inc. (NYSE:ITT) – Zacks Research upped their Q1 2024 earnings estimates for ITT in a note issued to investors on Wednesday, March 27th. Zacks Research analyst R. Department now anticipates that the conglomerate will post earnings of $1.34 per share for the quarter, up from their prior forecast of $1.33. The consensus estimate for ITT’s current full-year earnings is $5.76 per share. Zacks Research also issued estimates for ITT’s Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $5.67 EPS, Q3 2025 earnings at $1.73 EPS and FY2025 earnings at $6.47 EPS.

ITT (NYSE:ITT) last posted its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million for the quarter, compared to analysts’ expectations of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share.

ITT has been the topic of several other reports. DA Davidson upped their price objective on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their target price on shares of ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Citigroup upped their target price on shares of ITT from $122.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT has an average rating of “Buy” and an average target price of $124.57.

ITT Trading Down 0.6 %

Shares of ITT stock opened at $136.03 on Thursday. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.89 and a beta of 1.42. ITT has a 1-year low of $75.82 and a 1-year high of $138.29. The firm’s 50-day moving average price is $125.80 and its two-hundred day moving average price is $112.84.

Institutional Investors Weigh In On ITT

Large investors have recently bought and sold shares of the company. IFP Advisors Inc increased its position in shares of ITT by 63.4% during the third quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 118 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in ITT in the 3rd quarter valued at $34,000. KB Financial Partners LLC acquired a new stake in ITT in the 1st quarter valued at $36,000. AdvisorNet Financial Inc increased its stake in 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 buying an additional 204 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in 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 buying an additional 250 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $0.319 dividend. This represents a $1.28 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 7th. 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.