Equities research analysts expect ITT Inc. (NYSE:ITT) to report $0.58 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for ITT’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.57. ITT reported earnings per share of $0.48 during the same quarter last year, which would indicate a positive year over year growth rate of 20.8%. The company is expected to issue its next earnings report on Tuesday, February 13th.
On average, analysts expect that ITT will report full year earnings of $2.53 per share for the current year, with EPS estimates ranging from $2.50 to $2.55. For the next financial year, analysts expect that the business will post earnings of $3.02 per share, with EPS estimates ranging from $2.89 to $3.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow ITT.
ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $605.06 million. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS.
Several research analysts recently issued reports on ITT shares. Robert W. Baird restated an “outperform” rating and set a $60.00 price objective (up from $51.00) on shares of ITT in a research report on Thursday, November 2nd. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, October 12th. Deutsche Bank upgraded ITT from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $55.00 in a research report on Monday, October 9th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, KeyCorp restated a “buy” rating on shares of ITT in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.14.
Shares of ITT (NYSE ITT) traded up $0.96 during trading on Thursday, hitting $56.28. The company had a trading volume of 1,100,000 shares, compared to its average volume of 390,990. ITT has a 1 year low of $36.93 and a 1 year high of $56.30. The firm has a market cap of $4,952.64, a P/E ratio of 24.15, a P/E/G ratio of 1.50 and a beta of 1.59.
In other ITT news, insider Denise L. Ramos sold 161,100 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $50.14, for a total value of $8,077,554.00. Following the completion of the transaction, the insider now directly owns 283,032 shares in the company, valued at approximately $14,191,224.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas M. Scalera sold 5,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $50.98, for a total value of $254,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 171,960 shares of company stock valued at $8,630,962 over the last 90 days. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC raised its holdings in ITT by 57.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock valued at $117,000 after acquiring an additional 1,059 shares during the last quarter. Stevens First Principles Investment Advisors acquired a new position in ITT in the 3rd quarter valued at $137,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ITT by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock valued at $132,000 after acquiring an additional 314 shares during the last quarter. Creative Planning acquired a new position in ITT in the 4th quarter valued at $205,000. Finally, Huntington National Bank acquired a new position in ITT in the 3rd quarter valued at $191,000. Institutional investors own 92.45% of the company’s stock.
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ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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