ITT Inc. (NYSE:ITT) posted its quarterly earnings results on Thursday. The conglomerate reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05, Bloomberg Earnings reports. 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 8.64% and a return on equity of 14.17%. 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. ITT updated its FY17 guidance to $2.50-2.55 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a $0.128 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, December 7th. ITT’s payout ratio is 21.70%.

In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION NOTICE: “ITT Inc. (ITT) Issues Quarterly Earnings Results” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/11/02/itt-inc-itt-issues-quarterly-earnings-results.html.

Several analysts have weighed in on ITT shares. BidaskClub raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Tuesday, July 18th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $49.00 price target on shares of ITT in a research note on Wednesday, August 16th. Finally, Deutsche Bank AG raised shares of ITT from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $55.00 in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $48.50.

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.

Earnings History for ITT (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.