Equities research analysts expect ITT Inc (NYSE:ITT) to report $714.42 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for ITT’s earnings, with the lowest sales estimate coming in at $702.00 million and the highest estimate coming in at $732.00 million. ITT posted sales of $678.40 million during the same quarter last year, which suggests a positive year over year growth rate of 5.3%. The business is expected to report its next earnings report on Friday, February 28th.
On average, analysts expect that ITT will report full-year sales of $2.84 billion for the current fiscal year, with estimates ranging from $2.83 billion to $2.86 billion. For the next year, analysts forecast that the firm will report sales of $2.95 billion, with estimates ranging from $2.92 billion to $2.98 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover ITT.
ITT (NYSE:ITT) last released its earnings results on Friday, November 1st. The conglomerate reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.07. ITT had a net margin of 11.00% and a return on equity of 16.92%. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $707.57 million. During the same quarter last year, the company earned $0.82 EPS. ITT’s quarterly revenue was up 4.6% on a year-over-year basis.
In related news, insider Farrokh Batliwala sold 4,400 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $69.51, for a total value of $305,844.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coastal Investment Advisors Inc. grew its position in shares of ITT by 1,310.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 423 shares of the conglomerate’s stock worth $27,000 after buying an additional 393 shares during the period. Advisory Services Network LLC raised its position in shares of ITT by 63.5% during the second quarter. Advisory Services Network LLC now owns 528 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 205 shares during the period. Private Ocean LLC acquired a new stake in shares of ITT during the second quarter worth about $43,000. Victory Capital Management Inc. bought a new position in shares of ITT during the 2nd quarter valued at about $49,000. Finally, North Star Investment Management Corp. bought a new position in shares of ITT during the 3rd quarter valued at about $55,000. 91.10% of the stock is owned by institutional investors and hedge funds.
Shares of ITT stock traded down $0.44 on Friday, hitting $68.65. The company had a trading volume of 523,720 shares, compared to its average volume of 544,275. The business has a 50-day simple moving average of $62.50 and a 200-day simple moving average of $61.10. The company has a market cap of $6.08 billion, a PE ratio of 21.25, a PEG ratio of 1.86 and a beta of 1.60. ITT has a 52 week low of $44.89 and a 52 week high of $70.43.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.147 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.59 annualized dividend and a dividend yield of 0.86%. ITT’s dividend payout ratio (DPR) is 18.27%.
ITT declared that its Board of Directors has initiated a stock buyback program on Friday, November 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the conglomerate to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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