ITT (NYSE:ITT – Get Free Report) announced its earnings results on Thursday. The conglomerate reported $1.49 EPS for the quarter, topping the consensus estimate of $1.46 by $0.03, Briefing.com reports. ITT had a net margin of 12.47% and a return on equity of 18.30%. The business had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $916.38 million. During the same quarter in the prior year, the company posted $1.33 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. ITT updated its FY 2024 guidance to 5.650-5.900 EPS and its FY24 guidance to $5.65-5.90 EPS.
ITT Stock Performance
Shares of ITT traded down $9.49 during trading hours on Friday, hitting $129.73. The company had a trading volume of 568,954 shares, compared to its average volume of 406,465. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.81 and a beta of 1.41. The business has a fifty day moving average of $132.30 and a 200-day moving average of $129.89. ITT has a 12 month low of $91.94 and a 12 month high of $149.65. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.07.
ITT Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.319 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, September 3rd. ITT’s payout ratio is presently 25.10%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on ITT
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.
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