ITT Inc. (NYSE:ITT) Raises Dividend to $0.35 Per Share

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders of record on Thursday, March 6th will be paid a dividend of 0.351 per share by the conglomerate on Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.94%. This is a positive change from ITT’s previous quarterly dividend of $0.32.

ITT has increased its dividend by an average of 13.2% per year over the last three years. ITT has a payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $6.48 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 19.8%.

ITT Stock Up 0.5 %

ITT stock opened at $149.59 on Thursday. The stock’s 50 day moving average price is $148.24 and its 200 day moving average price is $144.77. ITT has a 1-year low of $118.58 and a 1-year high of $161.13. The company has a market cap of $12.19 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.81 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 issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a net margin of 13.67% and a return on equity of 17.98%. On average, sell-side analysts predict that ITT will post 5.84 EPS for the current fiscal year.

Analysts Set New Price Targets

ITT has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup dropped their price objective on ITT from $183.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus decreased their target price on ITT from $180.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Robert W. Baird dropped their price target on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.13.

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.