ITT Inc. (NYSE:ITT) to Post Q2 2022 Earnings of $0.97 Per Share, William Blair Forecasts

ITT Inc. (NYSE:ITTGet Rating) – Equities research analysts at William Blair lowered their Q2 2022 earnings per share estimates for ITT in a report released on Wednesday, May 4th. William Blair analyst N. Heymann now anticipates that the conglomerate will post earnings per share of $0.97 for the quarter, down from their prior estimate of $0.99. William Blair also issued estimates for ITT’s Q4 2022 earnings at $1.36 EPS.

ITT (NYSE:ITTGet Rating) last announced its earnings results on Tuesday, May 3rd. The conglomerate reported $0.97 EPS for the quarter, meeting analysts’ consensus estimates of $0.97. ITT had a net margin of 11.44% and a return on equity of 16.29%. The business had revenue of $726.20 million during the quarter, compared to analysts’ expectations of $695.93 million. During the same period in the prior year, the company earned $1.06 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus reduced their target price on shares of ITT from $107.00 to $91.00 and set a “buy” rating for the company in a report on Monday, April 18th. The Goldman Sachs Group dropped their price target on shares of ITT from $109.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, April 7th. Oppenheimer lowered shares of ITT from an “outperform” rating to a “market perform” rating in a research note on Monday, March 28th. KeyCorp dropped their price target on shares of ITT from $113.00 to $100.00 in a research note on Wednesday. Finally, StockNews.com initiated coverage on shares of ITT in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $103.17.

Shares of NYSE:ITT opened at $76.21 on Thursday. The company has a 50-day simple moving average of $76.40 and a 200-day simple moving average of $89.82. ITT has a one year low of $68.80 and a one year high of $105.54. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.26 and a beta of 1.51.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4th. Investors of record on Wednesday, March 9th were paid a dividend of $0.264 per share. This is an increase from ITT’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, March 8th. This represents a $1.06 annualized dividend and a dividend yield of 1.39%. ITT’s dividend payout ratio is presently 29.94%.

In related news, CEO Luca Savi sold 10,290 shares of the company’s stock in a transaction that occurred on Thursday, February 17th. The shares were sold at an average price of $87.44, for a total transaction of $899,757.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

A number of large investors have recently bought and sold shares of ITT. National Bank of Canada FI purchased a new position in ITT during the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC purchased a new position in ITT during the fourth quarter worth approximately $28,000. KB Financial Partners LLC purchased a new position in ITT during the fourth quarter worth approximately $36,000. Parkside Investments LLC purchased a new position in ITT during the first quarter worth approximately $37,000. Finally, CWM LLC purchased a new position in ITT during the fourth quarter worth approximately $38,000. 95.64% of the stock is currently owned by institutional investors.

ITT Company Profile (Get Rating)

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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.

See Also

Earnings History and Estimates for ITT (NYSE:ITT)

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