ITT Inc. to Post FY2018 Earnings of $3.00 Per Share, KeyCorp Forecasts (ITT)

ITT Inc. (NYSE:ITT) – KeyCorp raised their FY2018 earnings per share (EPS) estimates for ITT in a report issued on Thursday. KeyCorp analyst J. Hammond now expects that the conglomerate will post earnings of $3.00 per share for the year, up from their previous estimate of $2.85. KeyCorp currently has a “Buy” rating on the stock.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The business had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $605.06 million. ITT had a return on equity of 14.12% and a net margin of 8.29%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS.

Several other analysts have also recently commented on the company. Zacks Investment Research raised ITT from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, October 12th. Seaport Global Securities reissued a “buy” rating on shares of ITT in a report on Monday, November 6th. Deutsche Bank raised ITT from a “hold” rating to a “buy” rating and raised their price target for the company from $46.00 to $55.00 in a report on Monday, October 9th. ValuEngine raised ITT from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price objective (up from $51.00) on shares of ITT in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $56.14.

Shares of ITT (NYSE ITT) opened at $56.28 on Monday. The company has a market capitalization of $4,952.64, a P/E ratio of 24.15, a PEG ratio of 1.49 and a beta of 1.59. ITT has a 1-year low of $36.93 and a 1-year high of $56.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of ITT by 2.4% in the second quarter. Stephens Inc. AR now owns 5,532 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 130 shares during the last quarter. Petrus Trust Company LTA raised its holdings in shares of ITT by 3.8% in the second quarter. Petrus Trust Company LTA now owns 6,861 shares of the conglomerate’s stock worth $276,000 after acquiring an additional 252 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of ITT by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 26,533 shares of the conglomerate’s stock worth $1,066,000 after acquiring an additional 533 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of ITT by 17.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,120 shares of the conglomerate’s stock worth $246,000 after acquiring an additional 914 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,059 shares during the last quarter. 92.50% of the stock is owned by institutional investors.

In other news, CFO Thomas M. Scalera sold 5,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $50.98, for a total value of $254,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise L. Ramos sold 161,100 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $50.14, for a total value of $8,077,554.00. Following the completion of the transaction, the insider now directly owns 283,032 shares of the company’s stock, valued at $14,191,224.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,960 shares of company stock valued at $8,630,962. 1.20% of the stock is currently owned by insiders.

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About ITT

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 and Estimates for ITT (NYSE:ITT)

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