ITT Inc (NYSE:ITT) – Stock analysts at KeyCorp lifted their Q2 2018 earnings per share (EPS) estimates for shares of ITT in a research note issued to investors on Tuesday, June 12th. KeyCorp analyst J. Hammond now anticipates that the conglomerate will earn $0.79 per share for the quarter, up from their prior estimate of $0.78. KeyCorp currently has a “Overweight” rating and a $65.00 target price on the stock. KeyCorp also issued estimates for ITT’s FY2019 earnings at $3.60 EPS.

ITT (NYSE:ITT) last released its earnings results on Friday, May 4th. The conglomerate reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. ITT had a net margin of 6.37% and a return on equity of 14.98%. The firm had revenue of $689.30 million during the quarter, compared to analyst estimates of $680.75 million. During the same quarter in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year.

A number of other research firms have also commented on ITT. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 target price (down previously from $63.00) on shares of ITT in a report on Tuesday, February 20th. DA Davidson initiated coverage on shares of ITT in a research report on Wednesday, March 21st. They set a “buy” rating and a $60.00 price target on the stock. Robert W. Baird reduced their price target on shares of ITT from $64.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, May 7th. ValuEngine raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Friday, May 4th. Finally, Oppenheimer reissued a “buy” rating and set a $60.00 price target on shares of ITT in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $58.67.

ITT opened at $54.91 on Thursday. ITT has a 52 week low of $38.29 and a 52 week high of $57.62. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.55.

A number of institutional investors and hedge funds have recently bought and sold shares of ITT. Alps Advisors Inc. bought a new stake in ITT in the 4th quarter valued at $209,000. AXA bought a new stake in ITT in the 4th quarter valued at $219,000. Burney Co. bought a new stake in ITT in the 4th quarter valued at $222,000. Envestnet Asset Management Inc. lifted its position in ITT by 91.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,452 shares of the conglomerate’s stock valued at $238,000 after acquiring an additional 2,128 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in ITT in the 4th quarter valued at $245,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Steven C. Giuliano sold 11,940 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $52.98, for a total value of $632,581.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Denise L. Ramos sold 105,295 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $52.74, for a total transaction of $5,553,258.30. Following the completion of the sale, the insider now directly owns 359,400 shares in the company, valued at $18,954,756. The disclosure for this sale can be found here. Insiders sold a total of 124,875 shares of company stock worth $6,607,262 over the last ninety days. 1.00% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Monday, June 11th will be given a dividend of $0.134 per share. The ex-dividend date of this dividend is Friday, June 8th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.98%. ITT’s dividend payout ratio is 20.85%.

ITT announced that its board has approved a stock repurchase plan on Friday, February 16th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the conglomerate to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

ITT Company Profile

ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Industrial Process, Motion Technologies, and Connect & Control Technologies. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization systems; and centrifugal pumps, vertical centrifugal pumps, twin screw and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services.

Earnings History and Estimates for ITT (NYSE:ITT)

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