Brokers Issue Forecasts for ITT’s Q4 Earnings (NYSE:ITT)

ITT Inc. (NYSE:ITT) – Research analysts at DA Davidson issued their Q4 2024 EPS estimates for shares of ITT in a research note issued to investors on Wednesday, October 30th. DA Davidson analyst M. Summerville anticipates that the conglomerate will post earnings per share of $1.47 for the quarter. The consensus estimate for ITT’s current full-year earnings is $5.84 per share.

Other equities analysts also recently issued research reports about the stock. TD Cowen raised their price objective on shares of ITT from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Stifel Nicolaus raised their price objective on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their price objective on shares of ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Robert W. Baird dropped their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, KeyCorp lifted their price target on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $156.11.

ITT Stock Performance

Shares of NYSE ITT opened at $144.78 on Thursday. The firm’s 50-day moving average price is $142.79 and its 200-day moving average price is $136.09. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market cap of $11.83 billion, a PE ratio of 28.39, a PEG ratio of 1.92 and a beta of 1.40. ITT has a 52-week low of $91.94 and a 52-week high of $153.99.

ITT (NYSE:ITT) last announced its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million for the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS.

Institutional Investors Weigh In On ITT

Several institutional investors and hedge funds have recently modified their holdings of ITT. Lynx Investment Advisory bought a new stake in shares of ITT during the second quarter valued at approximately $27,000. Headlands Technologies LLC bought a new stake in ITT in the second quarter worth $32,000. UMB Bank n.a. increased its position in ITT by 315.8% in the third quarter. UMB Bank n.a. now owns 237 shares of the conglomerate’s stock worth $35,000 after purchasing an additional 180 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in ITT in the second quarter worth $36,000. Finally, Quent Capital LLC increased its position in ITT by 53.9% in the third quarter. Quent Capital LLC now owns 294 shares of the conglomerate’s stock worth $44,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 91.59% of the company’s stock.

ITT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.319 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is currently 24.90%.

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.