Analysts Anticipate ITT Inc (NYSE:ITT) Will Announce Quarterly Sales of $703.80 Million
Wall Street brokerages expect ITT Inc (NYSE:ITT) to report sales of $703.80 million for the current quarter, Zacks reports. Seven analysts have made estimates for ITT’s earnings, with estimates ranging from $695.00 million to $730.00 million. ITT reported sales of $696.80 million during the same quarter last year, which indicates a positive year over year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Friday, August 2nd.
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 $2.86 billion. For the next year, analysts anticipate that the business will report sales of $2.99 billion, with estimates ranging from $2.93 billion to $3.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ITT.
ITT (NYSE:ITT) last issued its quarterly earnings results on Friday, May 3rd. The conglomerate reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. ITT had a net margin of 11.04% and a return on equity of 16.69%. The business had revenue of $695.50 million for the quarter, compared to analysts’ expectations of $682.49 million. During the same quarter last year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year.
In related news, CFO Thomas M. Scalera sold 64,135 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $61.57, for a total value of $3,948,791.95. Following the completion of the transaction, the chief financial officer now owns 73,701 shares of the company’s stock, valued at approximately $4,537,770.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Farrokh Batliwala sold 8,950 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.38, for a total transaction of $549,351.00. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of ITT. LPL Financial LLC raised its holdings in shares of ITT by 8.4% during the fourth quarter. LPL Financial LLC now owns 5,207 shares of the conglomerate’s stock valued at $251,000 after buying an additional 404 shares during the last quarter. Advisor Group Inc. increased its stake in shares of ITT by 10.0% during the fourth quarter. Advisor Group Inc. now owns 3,065 shares of the conglomerate’s stock valued at $148,000 after acquiring an additional 278 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ITT by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,691,522 shares of the conglomerate’s stock valued at $81,647,000 after acquiring an additional 138,213 shares during the period. Two Sigma Advisers LP increased its stake in shares of ITT by 68.5% during the fourth quarter. Two Sigma Advisers LP now owns 213,200 shares of the conglomerate’s stock valued at $10,291,000 after acquiring an additional 86,666 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of ITT by 10.5% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 91,298 shares of the conglomerate’s stock valued at $4,408,000 after acquiring an additional 8,712 shares during the period. 89.70% of the stock is owned by hedge funds and other institutional investors.
Shares of ITT stock traded down $0.84 during trading hours on Friday, hitting $63.36. 11,636 shares of the company were exchanged, compared to its average volume of 408,020. ITT has a one year low of $44.89 and a one year high of $66.88. The firm has a 50-day moving average price of $63.81. The company has a market cap of $5.64 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 10th were paid a dividend of $0.147 per share. The ex-dividend date was Friday, June 7th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.93%. ITT’s dividend payout ratio is presently 18.27%.
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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