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ITT Inc Stock Quote ITT

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Morningstar's ITT Inc Stock Analysis

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Is it the right time to buy or sell?

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ITT’s Ingenuity Never Ceases to Amaze; We Maintain FVE Given In-Line Results

Joshua Aguilar Senior Analyst

Analyst Note

| Joshua Aguilar |

We see no reason to change our $100 fair value estimate following narrow-moat ITT’s second quarter results. Our full-year revenue assumptions of $3.01 billion and adjusted EPS of $4.54 remain completely unchanged. Second-quarter revenue of $733 million was right in line with our expectations, while adjusted EPS of 98 cents just narrowly fell below our expectations of $1.00. While management tightened its EPS range, we still expect ITT will hit the top end of its revenue guidance, but the low end of its adjusted segment operating margin range. If anything, we only have increased confidence in our organic top-line projections given ITT’s large, accumulated backlog, its price capture, and of course, its year-to-date results. That said, we did tweak our adjusted operating margin expectations downwards by 10 basis points for the full year.

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Key Statistics - ITT

Company Profile - ITT

Business Description

ITT is a diversified industrial conglomerate with nearly $3 billion in sales. After the spinoffs of Xylem and Exelis in 2011, the company’s products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches. Its customers include original-equipment and Tier 1 manufacturers as well as aftermarket customers. ITT uses a network of approximately 700 independent distributors, which accounts for about one third of overall revenue. Nearly three fourths of the company’s sales are made in North America and Europe. ITT’s primary end markets include automotive, rail, oil and gas, aerospace and defense, chemical, mining, and general industrial.

1133 Westchester Avenue
White Plains, NY, 10604
T +1 914 641-2000
Industry Specialty Industrial Machinery
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 9,900

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