ITT Inc. (NYSE:ITT) – Investment analysts at William Blair raised their FY2017 earnings estimates for ITT in a research report issued on Thursday, according to Zacks Investment Research. William Blair analyst N. Heymann now expects that the conglomerate will earn $2.53 per share for the year, up from their prior forecast of $2.45. William Blair also issued estimates for ITT’s Q4 2017 earnings at $0.58 EPS, Q1 2018 earnings at $0.74 EPS, Q2 2018 earnings at $0.78 EPS, Q3 2018 earnings at $0.78 EPS and Q4 2018 earnings at $0.69 EPS.
Other equities analysts also recently issued reports about the stock. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price objective on shares of ITT in a research note on Thursday, September 21st. Seaport Global Securities reaffirmed a “buy” rating on shares of ITT in a research note on Monday, November 6th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. BidaskClub downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of ITT from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. ITT has an average rating of “Buy” and an average price target of $50.44.
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Shares of ITT (NYSE:ITT) opened at $50.42 on Monday. The firm has a market cap of $4,493.28, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.53. ITT has a one year low of $36.93 and a one year high of $53.00.
ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $605.06 million. ITT had a net margin of 8.29% and a return on equity of 14.12%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share.
Institutional investors and hedge funds have recently made changes to their positions in the business. Pinnacle Financial Partners Inc. purchased a new stake in ITT in the second quarter worth about $105,000. Riverhead Capital Management LLC grew its holdings in ITT by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 2,918 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 1,059 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ITT by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,280 shares of the conglomerate’s stock worth $132,000 after purchasing an additional 314 shares during the period. Stevens First Principles Investment Advisors purchased a new stake in ITT in the third quarter worth about $137,000. Finally, Huntington National Bank purchased a new stake in ITT in the third quarter worth about $191,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
In related news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s payout ratio is currently 21.89%.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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