ITT Inc. (NYSE:ITT) Announces $0.32 Quarterly Dividend

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.319 per share by the conglomerate on Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 0.90%.

ITT has raised its dividend payment by an average of 19.7% annually over the last three years. ITT has a payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $6.63 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 19.3%.

ITT Trading Up 0.5 %

Shares of NYSE:ITT opened at $141.46 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.59. The stock’s 50-day moving average is $132.40 and its 200-day moving average is $129.66. The company has a market cap of $11.64 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.83 and a beta of 1.41. ITT has a 52-week low of $91.94 and a 52-week high of $144.44.

ITT (NYSE:ITT) last posted its quarterly earnings data on Thursday, May 2nd. The conglomerate reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ITT had a return on equity of 18.21% and a net margin of 12.41%. The company had revenue of $910.60 million during the quarter, compared to analysts’ expectations of $883.21 million. During the same period in the prior year, the business earned $1.17 earnings per share. ITT’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts predict that ITT will post 5.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITT. Stifel Nicolaus raised their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. UBS Group lifted their target price on ITT from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. TD Cowen upped their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Citigroup lifted their price objective on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, KeyCorp upped their target price on ITT from $136.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, ITT currently has a consensus rating of “Buy” and an average price target of $144.88.

About ITT

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.