ITT (NYSE:ITT) Announces Earnings Results

ITT (NYSE:ITT - Get Free Report) posted its quarterly earnings data on Thursday. The conglomerate reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06, Briefing.com reports. ITT had a net margin of 12.41% and a return on equity of 18.21%. The company had revenue of $910.60 million for the quarter, compared to the consensus estimate of $883.21 million. During the same period last year, the company earned $1.17 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year.

ITT Stock Performance

Shares of NYSE ITT traded up $3.82 during trading hours on Friday, reaching $128.31. 540,258 shares of the stock were exchanged, compared to its average volume of 382,581. The firm 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. The stock's fifty day simple moving average is $129.45 and its 200 day simple moving average is $118.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.24 and a current ratio of 1.59. ITT has a 52 week low of $75.82 and a 52 week high of $138.29.

ITT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.319 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 3rd. ITT's dividend payout ratio is presently 24.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ITT shares. Stifel Nicolaus boosted their price target 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. StockNews.com cut shares of ITT from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 6th. DA Davidson upped their target price on shares of ITT from $140.00 to $155.00 and gave the company a "buy" rating in a report on Tuesday, March 26th. Citigroup lifted their price target on ITT from $139.00 to $157.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, KeyCorp raised their price objective on ITT from $136.00 to $150.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ITT presently has an average rating of "Buy" and an average target price 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.