ITT (NYSE:ITT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

ITT (NYSE:ITT) released its earnings results on Thursday. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06, Briefing.com reports. ITT had a return on equity of 18.21% and a net margin of 12.41%. The firm had revenue of $910.60 million for the quarter, compared to analyst estimates of $883.21 million. During the same period in the previous year, the company earned $1.17 earnings per share. ITT’s revenue was up 14.1% compared to the same quarter last year.

ITT Stock Up 3.1 %

Shares of ITT stock traded up $3.82 on Friday, hitting $128.31. The company’s stock had a trading volume of 540,258 shares, compared to its average volume of 382,581. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.70 and a beta of 1.43. ITT has a fifty-two week low of $75.82 and a fifty-two week high of $138.29. The firm’s fifty day moving average price is $129.45 and its 200-day moving average price is $118.53.

ITT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.319 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. ITT’s dividend payout ratio (DPR) is 25.10%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KeyCorp boosted their target price on shares of ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Citigroup upped their price objective on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 6th. DA Davidson upped their price target on shares of ITT from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. Finally, Stifel Nicolaus lifted their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $135.57.

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.