ITT Inc. (NYSE:ITT) to Issue $0.32 Quarterly Dividend

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Friday, November 29th will be paid a dividend of 0.319 per share by the conglomerate on Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, November 29th.

ITT has raised its dividend by an average of 19.7% annually over the last three years. ITT has a dividend payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $6.50 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 19.7%.

ITT Stock Down 2.0 %

ITT stock opened at $155.60 on Thursday. The business’s 50-day moving average is $149.15 and its two-hundred day moving average is $139.03. ITT has a fifty-two week low of $107.01 and a fifty-two week high of $161.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.58. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.07 and a beta of 1.41.

ITT (NYSE:ITT) last issued its quarterly earnings data on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $885.20 million during the quarter, compared to the consensus estimate of $884.50 million. ITT had a net margin of 13.67% and a return on equity of 17.98%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. As a group, analysts forecast that ITT will post 5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

ITT has been the subject of a number of recent research reports. KeyCorp boosted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group increased their price target on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted their price objective on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen increased their target price on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $161.88.

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.