ITT Inc. (ITT) to Issue Quarterly Dividend of $0.32 on December 31st

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.319 per share by the conglomerate on Tuesday, December 31st. This represents a $1.28 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 29th.

ITT has increased its dividend by an average of 19.7% annually over the last three years. ITT has a dividend payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.6 %

Shares of ITT stock opened at $158.68 on Wednesday. ITT has a 1 year low of $107.01 and a 1 year high of $161.13. The firm has a fifty day moving average price of $148.76 and a 200-day moving average price of $138.88. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09.

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

Wall Street Analyst Weigh In

ITT has been the topic of several research analyst reports. 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. The Goldman Sachs Group boosted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. KeyCorp raised their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their price objective on ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird cut their target price on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $161.88.

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.