ITT Inc (NYSE:ITT) – Equities researchers at DA Davidson lowered their Q4 2018 earnings per share estimates for shares of ITT in a research report issued on Monday, November 5th. DA Davidson analyst M. Summerville now forecasts that the conglomerate will earn $0.74 per share for the quarter, down from their prior estimate of $0.78. DA Davidson currently has a “Buy” rating and a $70.00 target price on the stock. DA Davidson also issued estimates for ITT’s Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $0.92 EPS, Q1 2020 earnings at $0.97 EPS, Q2 2020 earnings at $0.99 EPS and Q3 2020 earnings at $1.01 EPS.
ITT (NYSE:ITT) last released its quarterly earnings results on Friday, November 2nd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate 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 firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share.
Several other research analysts have also commented on ITT. Oppenheimer set a $60.00 price target on ITT and gave the stock a “buy” rating in a research report on Tuesday, July 10th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. KeyCorp lifted their price target on ITT from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Monday, August 6th. Stifel Nicolaus lifted their target price on ITT from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 6th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $69.00 target price on shares of ITT in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.25.
ITT opened at $56.19 on Tuesday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.47 and a beta of 1.71. ITT has a 52 week low of $46.10 and a 52 week high of $63.04.
Several hedge funds have recently made changes to their positions in ITT. Meeder Asset Management Inc. purchased a new position in shares of ITT in the 3rd quarter valued at approximately $128,000. Bessemer Group Inc. grew its stake in shares of ITT by 593.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,831 shares of the conglomerate’s stock valued at $173,000 after purchasing an additional 2,423 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of ITT in the 3rd quarter valued at approximately $176,000. CIBC Asset Management Inc purchased a new position in shares of ITT in the 3rd quarter valued at approximately $206,000. Finally, Welch & Forbes LLC purchased a new position in shares of ITT in the 3rd quarter valued at approximately $208,000. Institutional investors own 90.85% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be paid a $0.134 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.54 annualized dividend and a dividend yield of 0.95%. ITT’s dividend payout ratio (DPR) is currently 20.85%.
ITT Company Profile
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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