Oppenheimer Weighs in on ITT Inc.’s Q1 2022 Earnings (NYSE:ITT)

ITT Inc. (NYSE:ITT) – Research analysts at Oppenheimer issued their Q1 2022 EPS estimates for shares of ITT in a report issued on Thursday, January 13th. Oppenheimer analyst B. Blair forecasts that the conglomerate will earn $1.13 per share for the quarter. Oppenheimer also issued estimates for ITT’s Q2 2022 earnings at $1.14 EPS, Q3 2022 earnings at $1.19 EPS, Q4 2022 earnings at $1.26 EPS and FY2023 earnings at $5.45 EPS.

Several other analysts have also weighed in on the company. TheStreet raised ITT from a “c+” rating to a “b” rating in a report on Thursday, November 4th. Citigroup lifted their price objective on ITT from $111.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, November 5th. Cowen lifted their price objective on ITT from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, December 6th. Finally, Bank of America raised ITT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $130.00 in a report on Wednesday, December 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $109.00.

Shares of NYSE ITT opened at $99.55 on Friday. The business’s 50 day moving average is $101.07 and its two-hundred day moving average is $96.05. The company has a market cap of $8.52 billion, a P/E ratio of 43.47, a P/E/G ratio of 1.50 and a beta of 1.58. ITT has a 12 month low of $74.56 and a 12 month high of $105.54.

ITT (NYSE:ITT) last issued its quarterly earnings results on Wednesday, November 3rd. The conglomerate reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The company had revenue of $689.60 million for the quarter, compared to the consensus estimate of $671.80 million. ITT had a return on equity of 16.29% and a net margin of 7.14%. During the same period in the previous year, the business posted $0.82 EPS.

A number of hedge funds have recently made changes to their positions in ITT. Capital International Investors boosted its stake in ITT by 124.1% in the second quarter. Capital International Investors now owns 5,517,559 shares of the conglomerate’s stock worth $505,353,000 after purchasing an additional 3,055,684 shares in the last quarter. Alliancebernstein L.P. boosted its stake in ITT by 80.5% in the third quarter. Alliancebernstein L.P. now owns 2,255,653 shares of the conglomerate’s stock worth $193,625,000 after purchasing an additional 1,006,054 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in ITT by 467.6% in the third quarter. Ceredex Value Advisors LLC now owns 759,404 shares of the conglomerate’s stock worth $65,227,000 after purchasing an additional 625,604 shares in the last quarter. Renaissance Technologies LLC acquired a new position in ITT in the second quarter worth $14,883,000. Finally, Morgan Stanley boosted its stake in ITT by 232.4% in the second quarter. Morgan Stanley now owns 232,334 shares of the conglomerate’s stock worth $21,279,000 after purchasing an additional 162,435 shares in the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

About ITT

ITT, Inc engages in the manufacture and sale of engineered components and customized technology solutions in the field of energy, transportation, and industrial markets. It operates through the following segments: Motion Technologies, Industrial Process, and Connect and Control Technologies. The Motion Technologies segment manufactures brake components and specialized sealing solutions, shock absorbers and damping technologies primarily for the global automotive, truck and trailer, public bus and rail transportation.

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