ITT Corp (ITT) Releases Earnings Results, Beats Expectations By $0.07 EPS

ITT Corp (ITT) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.67 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.60. The company posted revenue of $626.20 million in the period, compared to analysts expectations of $619.61 million. The company’s revenue was down -.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on ITT Corp. ITT Corp was Resumed by KeyBanc Capital Mkts to “Sector Weight” on Jun 29, 2016. Company shares were Upgraded by Seaport Global Securities on Jun 10, 2016 to ” Buy”, Firm has raised the Price Target to $ 41 from a previous price target of $37 .

ITT Corp closed down -0.44 points or -1.39% at $31.29 with 4,27,434 shares getting traded on Tusday. Post opening the session at $31.65, the shares hit an intraday low of $31.08 and an intraday high of $31.75 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 1, 2016, Aris C Chicles (officer ) sold 90,778 shares at $35.61 per share price. According to the SEC, on May 26, 2016, Thomas M Scalera (Executive VP & CFO) sold 7,019 shares at $36.00 per share price. On Mar 11, 2016, Denise L Ramos (CEO and President) sold 152,594 shares at $35.86 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Motion Technologies manufactures brake components shock absorbers and damping technologies for the automotive truck and trailer public bus and rail transportation markets. Interconnect Solutions manufactures and designs a range of engineered connector solutions that makes it possible to transfer signal and power between electronic devices. Control Technologies manufactures equipment including actuation valves and noise and energy absorption components for the aerospace and defense and industrial markets.

ITT Corp

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