ITT (NYSE:ITT) Issues Quarterly Earnings Results

ITT (NYSE:ITT) issued its quarterly earnings data on Thursday. The conglomerate reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06, Briefing.com reports. ITT had a net margin of 12.41% and a return on equity of 18.21%. The business had revenue of $910.60 million during the quarter, compared to analyst estimates of $883.21 million. During the same period in the prior year, the business earned $1.17 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis.

ITT Stock Up 3.1 %

ITT stock traded up $3.82 during trading on Friday, hitting $128.31. 540,258 shares of the stock traded hands, compared to its average volume of 382,581. ITT has a 1 year low of $75.82 and a 1 year high of $138.29. The firm’s 50 day moving average is $129.45 and its two-hundred day moving average is $118.53. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.24.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 (DPR) is 25.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup upped their price objective on shares of ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. KeyCorp increased their price target 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. Finally, DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $135.57.

About ITT

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.