Water Industry News

ITT Industries "outperform," estimates reduced

December 06, 2005
Robert W. Baird

NEW YORK, December 6 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on ITT Industries Inc (ITT.NYS), while reducing their estimates for the company. The target price is set to $125.

In a research note published this morning, the analysts mention that the company has announced the sale of its Auto Brake & Fuel Tubing business for $205 million in cash. The analysts expect ITT Industries to issue a disappointing EPS guidance for 2006 at $5.70-5.90, as compared to the consensus projection of $5.91-$5.96. The EPS estimates for 2005 and 2006 have been reduced from $5.40 to $5.22 and from $6.02 to $5.89, respectively.