ITT Inc. (ITT) To Go Ex-Dividend on June 3rd

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.319 per share by the conglomerate on Monday, July 1st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, June 3rd.

ITT has raised its dividend by an average of 19.7% per year over the last three years and has raised its dividend every year for the last 9 years. ITT has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $6.61 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 19.4%.

ITT Price Performance

NYSE:ITT opened at $128.28 on Friday. ITT has a 52 week low of $75.82 and a 52 week high of $138.29. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $10.55 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.70 and a beta of 1.43. The stock’s 50-day moving average price is $129.40 and its 200-day moving average price is $118.33.

ITT (NYSE:ITT) last posted its earnings results on Thursday, May 2nd. The conglomerate reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $910.60 million for the quarter, compared to analysts’ expectations of $883.21 million. ITT had a return on equity of 18.21% and a net margin of 12.41%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. As a group, equities analysts expect that ITT will post 5.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ITT. DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Citigroup lifted their price target on shares of ITT from $139.00 to $157.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on shares of ITT from $141.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Finally, KeyCorp lifted their target price on shares of ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $135.57.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.