Equities Analysts Offer Predictions for ITT Inc.’s Q1 2024 Earnings (NYSE:ITT)

ITT Inc. (NYSE:ITTFree Report) – Investment analysts at DA Davidson issued their Q1 2024 earnings per share (EPS) estimates for shares of ITT in a research report issued to clients and investors on Monday, February 12th. DA Davidson analyst M. Summerville anticipates that the conglomerate will post earnings per share of $1.35 for the quarter. The consensus estimate for ITT’s current full-year earnings is $5.75 per share. DA Davidson also issued estimates for ITT’s FY2025 earnings at $6.50 EPS.

ITT has been the topic of several other reports. Stifel Nicolaus lifted their price objective on ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. StockNews.com downgraded ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Citigroup lifted their price objective on ITT from $122.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Bank of America upgraded ITT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $125.00 in a report on Thursday, November 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ITT presently has an average rating of “Buy” and a consensus price target of $117.43.

Get Our Latest Stock Analysis on ITT

ITT Stock Performance

Shares of NYSE:ITT opened at $123.00 on Tuesday. The company has a market cap of $10.10 billion, a P/E ratio of 24.80, a PEG ratio of 1.62 and a beta of 1.44. ITT has a one year low of $75.82 and a one year high of $127.13. The business’s 50-day simple moving average is $118.34 and its 200 day simple moving average is $106.46.

ITT (NYSE:ITTGet Free Report) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $829.10 million for the quarter, compared to the consensus estimate of $814.38 million. ITT had a return on equity of 17.91% and a net margin of 12.50%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in shares of ITT by 63.4% in the 3rd quarter. IFP Advisors Inc now owns 304 shares of the conglomerate’s stock worth $30,000 after buying an additional 118 shares in the last quarter. Mcmillion Capital Management Inc. bought a new stake in shares of ITT in the 2nd quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of ITT in the 3rd quarter worth $34,000. AdvisorNet Financial Inc raised its stake in shares of ITT by 101.0% in the 4th quarter. AdvisorNet Financial Inc now owns 406 shares of the conglomerate’s stock worth $48,000 after buying an additional 204 shares in the last quarter. Finally, KB Financial Partners LLC bought a new stake in shares of ITT in the 1st quarter worth $36,000. Institutional investors and hedge funds own 90.73% of the company’s stock.

Insider Transactions at ITT

In other news, SVP Ryan F. Flynn sold 2,500 shares of ITT stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $113.44, for a total value of $283,600.00. Following the completion of the transaction, the senior vice president now owns 14,047 shares in the company, valued at approximately $1,593,491.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a $0.319 dividend. This is a positive change from ITT’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. ITT’s dividend payout ratio (DPR) is presently 25.60%.

ITT Company Profile

(Get Free Report)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

Further Reading

Earnings History and Estimates for ITT (NYSE:ITT)

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