ITT Inc. ITT reported better-than-expected results in fourth-quarter 2020, with earnings and revenues surpassing the Zacks Consensus Estimate. In the quarter, the company delivered an earnings surprise of 9.8%. Quarterly adjusted earnings were $1.01 per share, outpacing the Zacks Consensus Estimate of 92 cents. Also, the bottom line increased 2% from the year-ago quarter’s figure.In 2020, the company’s adjusted earnings came in at $3.20 per share, down 16% year over year.Revenues of $708.6 million were down 1.5% year over year. Also, revenues fell 3.9% on an organic basis. However, the top line surpassed the consensus mark of $654 million by 8.3%.Segmental BreakupFourth-quarter revenues of Industrial Process were $228.3 million, down 10.5% year over year. Organic sales declined 10.4%, owing to lower revenues from oil and gas pump projects and weakness across the short-cycle business.Quarterly revenues of Motion Technologies rose 15.7% year over year to $352.1 million. Organic sales increased 10%, mainly due to higher Friction sales on account of improved demand.Connect & Control Technologies generated $129 million revenues, down 19.8% year over year. Organic sales fell 21% due to softness across global commercial air traffic.Costs/MarginsCost of sales in the fourth quarter was $490 million, down 0.2% year over year. Sales and marketing expenses were $35.8 million compared with $41.4 million in the year-ago quarter.Gross profit fell 4.1% on a year-over-year basis to $218.6 million. Gross profit margin was 30.8%, down 90 basis points.Balance Sheet/Cash FlowExiting the fourth quarter, ITT had cash and cash equivalents of $859.8 million, up from $612.1 million as of Dec 31, 2019. Commercial paper and current maturities of long-term debt were $106.8 million compared with $86.5 million at the end of 2019.In 2020, the company generated $435.9 million in cash from operating activities, higher than $357.7 million recorded in the prior year. Capital expenditures totaled $63.7 million, declining from $91.4 million spent in the year-ago period.GuidanceFor 2021, the company anticipates adjusted earnings of $3.45-$3.75 per share, suggesting growth of 12.5% at the mid-point from the year-ago period’s reported figure.ITT Inc. Price, Consensus and EPS Surprise ITT Inc. price-consensus-eps-surprise-chart | ITT Inc. Quote Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #4 (Sell).Some better-ranked stocks are iRobot Corporation IRBT, Franklin Electric Co., Inc. FELE and Emerson Electric Co. EMR. While iRobot sports a Zacks Rank #1 (Strong Buy), Franklin Electric and Emerson carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.iRobot has a trailing four-quarter earnings surprise of 228.19%, on average.Franklin Electric has a trailing four-quarter earnings surprise of 19.15%, on average.Emerson has a trailing four-quarter earnings surprise of 21.53%, on average.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Emerson Electric Co. (EMR): Get Free Report ITT Inc. (ITT): Free Stock Analysis Report Franklin Electric Co., Inc. (FELE): Free Stock Analysis Report iRobot Corporation (IRBT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research