Q4 Earnings Forecast for ITT Issued By DA Davidson

ITT Inc. (NYSE:ITT) – Equities research analysts at DA Davidson issued their Q4 2024 EPS estimates for shares of ITT in a note issued to investors on Wednesday, October 30th. DA Davidson analyst M. Summerville forecasts that the conglomerate will earn $1.47 per share for the quarter. The consensus estimate for ITT’s current full-year earnings is $5.82 per share.

A number of other equities analysts also recently issued reports on ITT. Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus increased their price target on shares of ITT from $157.00 to $167.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp raised their target price on shares of ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $157.78.

ITT Stock Up 0.3 %

Shares of NYSE:ITT opened at $140.53 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.10 and a current ratio of 1.58. ITT has a 52-week low of $95.53 and a 52-week high of $153.99. The firm has a market capitalization of $11.45 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.92 and a beta of 1.40. The stock has a 50 day moving average price of $142.94 and a 200-day moving average price of $136.20.

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 the consensus estimate of $1.43 by $0.03. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. ITT’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share.

Hedge Funds Weigh In On ITT

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of ITT during the 3rd quarter valued at about $26,000. Lynx Investment Advisory purchased a new stake in ITT in the second quarter worth approximately $27,000. Headlands Technologies LLC bought a new stake in ITT in the 2nd quarter worth approximately $32,000. UMB Bank n.a. grew its position in ITT by 315.8% in the 3rd 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 period. Finally, Brown Brothers Harriman & Co. purchased a new stake in ITT during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 91.59% of the company’s stock.

ITT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, November 29th. ITT’s payout ratio is 21.67%.

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.