ITT Inc (ITT) Expected to Post Quarterly Sales of $698.41 Million
Equities analysts predict that ITT Inc (NYSE:ITT) will announce sales of $698.41 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for ITT’s earnings. The lowest sales estimate is $692.30 million and the highest is $710.00 million. ITT posted sales of $683.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 2.2%. The business is scheduled to issue its next earnings report on Friday, February 15th.
On average, analysts expect that ITT will report full-year sales of $2.77 billion for the current year, with estimates ranging from $2.76 billion to $2.78 billion. For the next year, analysts forecast that the company will post sales of $2.90 billion, with estimates ranging from $2.86 billion to $2.95 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ITT.
ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, November 2nd. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $680.60 million for the quarter, compared to analyst estimates of $677.36 million. ITT had a return on equity of 16.10% and a net margin of 7.80%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share.
ITT stock traded down $0.96 on Friday, reaching $55.22. The company’s stock had a trading volume of 46,522 shares, compared to its average volume of 954,002. The firm has a market cap of $4.92 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.45 and a beta of 1.71. ITT has a twelve month low of $46.10 and a twelve month high of $63.04.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.134 per share. This represents a $0.54 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, December 6th. ITT’s dividend payout ratio (DPR) is presently 20.85%.
Several institutional investors and hedge funds have recently modified their holdings of ITT. Oregon Public Employees Retirement Fund increased its holdings in ITT by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 34,248 shares of the conglomerate’s stock valued at $1,790,000 after purchasing an additional 986 shares during the last quarter. Arizona State Retirement System increased its holdings in ITT by 1.9% in the second quarter. Arizona State Retirement System now owns 60,680 shares of the conglomerate’s stock valued at $3,172,000 after purchasing an additional 1,140 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in ITT by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 21,081 shares of the conglomerate’s stock valued at $1,291,000 after purchasing an additional 1,167 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in ITT by 31.5% in the third quarter. Riverhead Capital Management LLC now owns 5,848 shares of the conglomerate’s stock valued at $358,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in ITT by 10.0% in the third quarter. Aperio Group LLC now owns 18,900 shares of the conglomerate’s stock valued at $1,158,000 after purchasing an additional 1,722 shares during the last quarter. 89.47% of the stock is currently owned by institutional investors and hedge funds.
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: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.
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