Q2 2020 Earnings Forecast for ITT Inc Issued By KeyCorp (NYSE:ITT)
ITT Inc (NYSE:ITT) – KeyCorp issued their Q2 2020 earnings estimates for shares of ITT in a research report issued to clients and investors on Wednesday, July 8th. KeyCorp analyst J. Hammond expects that the conglomerate will earn $0.32 per share for the quarter.
ITT (NYSE:ITT) last posted its quarterly earnings data on Friday, May 1st. The conglomerate reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. ITT had a net margin of 12.03% and a return on equity of 16.26%. The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $631.89 million. During the same period in the prior year, the firm posted $0.91 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year.
ITT stock opened at $57.64 on Monday. ITT has a fifty-two week low of $35.41 and a fifty-two week high of $75.56. The firm’s 50-day simple moving average is $57.63 and its 200 day simple moving average is $58.37. The stock has a market cap of $4.97 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.23 and a beta of 1.60.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in ITT during the 4th quarter worth approximately $3,458,000. Northwestern Mutual Wealth Management Co. boosted its position in ITT by 38.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 723 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Blair William & Co. IL boosted its position in ITT by 0.8% during the 1st quarter. Blair William & Co. IL now owns 28,056 shares of the conglomerate’s stock worth $1,273,000 after acquiring an additional 236 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in ITT by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the conglomerate’s stock worth $1,263,000 after acquiring an additional 300 shares during the last quarter. Finally, Symmetry Partners LLC boosted its position in ITT by 6.1% during the 1st quarter. Symmetry Partners LLC now owns 6,866 shares of the conglomerate’s stock worth $311,000 after acquiring an additional 395 shares during the last quarter. Institutional investors and hedge funds own 90.95% of the company’s stock.
In other news, insider Farrokh Batliwala sold 2,500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $65.00, for a total value of $162,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orlando D. Ashford sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the transaction, the director now owns 18,277 shares of the company’s stock, valued at $1,153,095.93. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a dividend of $0.169 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. ITT’s dividend payout ratio is currently 17.85%.
ITT Company Profile
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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