Wall Street brokerages forecast that ITT Inc (NYSE:ITT) will report sales of $715.22 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for ITT’s earnings, with estimates ranging from $705.70 million to $736.00 million. ITT posted sales of $680.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.1%. The firm is expected to issue its next quarterly earnings report on Friday, November 1st.

According to Zacks, analysts expect that ITT will report full-year sales of $2.85 billion for the current year, with estimates ranging from $2.83 billion to $2.88 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.00 billion, with estimates ranging from $2.95 billion to $3.05 billion. Zacks’ sales averages are an average based on a survey of research firms that cover ITT.

ITT (NYSE:ITT) last posted its earnings results on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The company had revenue of $719.90 million during the quarter, compared to analyst estimates of $703.80 million. ITT had a return on equity of 16.68% and a net margin of 10.85%. During the same period in the previous year, the company earned $0.82 EPS.

ITT has been the subject of several analyst reports. ValuEngine lowered ITT from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded ITT from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Wednesday, June 12th. Finally, Oppenheimer set a $72.00 target price on ITT and gave the stock a “buy” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.20.

Institutional investors and hedge funds have recently modified their holdings of the stock. Artemis Investment Management LLP grew its position in shares of ITT by 1.9% in the 2nd quarter. Artemis Investment Management LLP now owns 308,587 shares of the conglomerate’s stock valued at $20,145,000 after purchasing an additional 5,900 shares during the period. Bank of New York Mellon Corp grew its position in shares of ITT by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,173,231 shares of the conglomerate’s stock valued at $76,822,000 after purchasing an additional 69,387 shares during the period. Marshall Wace North America L.P. grew its position in shares of ITT by 149.8% in the 1st quarter. Marshall Wace North America L.P. now owns 3,300 shares of the conglomerate’s stock valued at $191,000 after purchasing an additional 1,979 shares during the period. Janus Henderson Group PLC grew its position in shares of ITT by 9.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,574,946 shares of the conglomerate’s stock valued at $234,087,000 after purchasing an additional 310,850 shares during the period. Finally, OppenheimerFunds Inc. grew its position in shares of ITT by 17.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,027,938 shares of the conglomerate’s stock valued at $59,621,000 after purchasing an additional 154,198 shares during the period. Institutional investors and hedge funds own 90.75% of the company’s stock.

Shares of ITT stock traded down $0.76 during trading on Monday, hitting $61.04. 522,057 shares of the company were exchanged, compared to its average volume of 533,262. The firm has a market capitalization of $5.44 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.60. ITT has a 1-year low of $44.89 and a 1-year high of $66.88. The firm’s fifty day moving average price is $58.21 and its 200 day moving average price is $60.17.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a $0.147 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.59 annualized dividend and a dividend yield of 0.96%. ITT’s dividend payout ratio is presently 18.27%.

About ITT

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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