Q2 2024 EPS Estimates for ITT Inc. (NYSE:ITT) Boosted by Zacks Research

ITT Inc. (NYSE:ITT) – Research analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for shares of ITT in a research report issued to clients and investors on Thursday, May 23rd. Zacks Research analyst R. Department now expects that the conglomerate will post earnings per share of $1.43 for the quarter, up from their prior estimate of $1.42. The consensus estimate for ITT’s current full-year earnings is $5.83 per share. Zacks Research also issued estimates for ITT’s Q4 2024 earnings at $1.49 EPS, FY2024 earnings at $5.78 EPS, Q3 2025 earnings at $1.74 EPS, Q4 2025 earnings at $1.76 EPS and FY2025 earnings at $6.51 EPS.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ITT had a net margin of 12.41% and a return on equity of 18.21%. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. During the same period last year, the firm posted $1.17 EPS. ITT’s quarterly revenue was up 14.1% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. UBS Group increased their target price on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com lowered shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. KeyCorp raised their price objective on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. DA Davidson increased their target price on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Stifel Nicolaus raised their price objective on ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $138.38.

ITT Trading Up 0.8 %

Shares of ITT stock opened at $137.63 on Friday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. ITT has a 52-week low of $75.82 and a 52-week high of $140.20. The company’s 50-day simple moving average is $132.65 and its 200-day simple moving average is $122.89. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

ITT Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, June 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 0.93%. ITT’s dividend payout ratio (DPR) is currently 24.90%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ITT. California Public Employees Retirement System increased its stake in ITT by 1.3% in the third quarter. California Public Employees Retirement System now owns 166,267 shares of the conglomerate’s stock valued at $16,279,000 after purchasing an additional 2,168 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of ITT by 4.0% during the 3rd quarter. Private Advisor Group LLC now owns 4,149 shares of the conglomerate’s stock valued at $406,000 after acquiring an additional 158 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of ITT during the 3rd quarter worth about $277,000. Victory Capital Management Inc. boosted its position in shares of ITT by 14.7% in the third quarter. Victory Capital Management Inc. now owns 327,936 shares of the conglomerate’s stock worth $32,108,000 after acquiring an additional 41,943 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in ITT by 198.0% in the third quarter. Assenagon Asset Management S.A. now owns 64,364 shares of the conglomerate’s stock valued at $6,302,000 after purchasing an additional 42,767 shares during the period. 91.59% of the stock is currently owned by institutional investors and hedge funds.

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.