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

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 29th.

ITT has raised its dividend payment by an average of 19.7% per year over the last three years. ITT has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect ITT to earn $6.51 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 Performance

Shares of ITT stock opened at $144.78 on Thursday. The stock has a market cap of $11.83 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.40. The business has a fifty day simple moving average of $142.79 and a 200-day simple moving average of $136.09. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. ITT has a 12 month low of $91.94 and a 12 month high of $153.99.

ITT (NYSE:ITT) last issued its earnings results on Tuesday, October 29th. The conglomerate reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $885.20 million during the quarter, compared to analysts’ expectations of $884.50 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. ITT’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. On average, sell-side analysts anticipate that ITT will post 5.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on ITT shares. KeyCorp lifted their price objective on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird reduced their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research report on Wednesday. TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus lifted 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. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $156.11.

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.