ITT Inc. (NYSE:ITT) – Analysts at Oppenheimer Holdings lifted their FY2017 earnings estimates for shares of ITT in a research note issued on Monday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the conglomerate will post earnings per share of $2.40 for the year, up from their prior forecast of $2.35. Oppenheimer Holdings currently has a “Outperform” rating and a $50.00 target price on the stock.

A number of other research analysts have also recently issued reports on ITT. Barclays PLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of ITT in a research note on Wednesday, January 18th. Stifel Nicolaus raised their price objective on ITT from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. CIBC raised ITT from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 16th. Finally, TheStreet cut ITT from a “b” rating to a “c+” rating in a research note on Tuesday, February 14th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $46.33.

Earnings History and Estimates for ITT (NYSE:ITT)

COPYRIGHT VIOLATION WARNING: This report was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/05/11/itt-inc-itt-forecasted-to-post-fy2017-earnings-of-2-40-per-share.html.

ITT (NYSE:ITT) traded down 2.33% during trading on Thursday, hitting $40.73. The stock had a trading volume of 36,994 shares. The stock has a market capitalization of $3.61 billion, a P/E ratio of 18.77 and a beta of 1.39. ITT has a 52 week low of $30.06 and a 52 week high of $44.00. The company has a 50-day moving average of $40.41 and a 200-day moving average of $40.13.

ITT (NYSE:ITT) last posted its quarterly earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. ITT had a return on equity of 15.41% and a net margin of 7.93%. The company had revenue of $625.80 million during the quarter, compared to analysts’ expectations of $607.08 million. During the same quarter in the previous year, the firm earned $0.59 EPS. ITT’s revenue was up 2.7% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be paid a $0.128 dividend. This represents a $0.51 annualized dividend and a dividend yield of 1.23%. ITT’s payout ratio is presently 22.94%.

In related news, insider Aris C. Chicles sold 23,650 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $43.31, for a total value of $1,024,281.50. Following the sale, the insider now directly owns 63,550 shares of the company’s stock, valued at $2,752,350.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Denise L. Ramos sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $41.35, for a total value of $2,067,500.00. Following the completion of the sale, the chief executive officer now directly owns 308,032 shares in the company, valued at $12,737,123.20. The disclosure for this sale can be found here. Insiders sold 176,739 shares of company stock worth $7,318,431 over the last three months. 1.60% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in ITT by 3.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,378 shares of the conglomerate’s stock valued at $131,000 after buying an additional 120 shares during the last quarter. Tyers Asset Management LLC acquired a new stake in ITT during the fourth quarter valued at about $135,000. Advisor Group Inc. boosted its stake in ITT by 40.7% in the third quarter. Advisor Group Inc. now owns 3,852 shares of the conglomerate’s stock valued at $138,000 after buying an additional 1,114 shares during the last quarter. Elkfork Partners LLC acquired a new stake in ITT during the fourth quarter valued at about $185,000. Finally, Timber Hill LLC acquired a new stake in ITT during the first quarter valued at about $201,000. 91.15% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NYSE:ITT

Receive News & Ratings for ITT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ITT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.