ITT Inc. (NYSE:ITT) to Issue Quarterly Dividend of $0.39

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.3860 per share by the conglomerate on Thursday, December 31st. This represents a $1.54 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, December 4th.

ITT has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 10 years. ITT has a dividend payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $9.50 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 16.2%.

ITT Trading Down 1.8%

ITT stock opened at $201.47 on Thursday. ITT has a 12-month low of $166.96 and a 12-month high of $230.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.26 and a quick ratio of 0.85. The stock has a market capitalization of $18.01 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The firm has a 50 day simple moving average of $201.49 and a 200-day simple moving average of $199.15.

ITT (NYSE:ITT) last posted its quarterly earnings data on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.18. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. ITT had a net margin of 8.90% and a return on equity of 15.90%. The business’s revenue for the quarter was up 44.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. As a group, equities research analysts expect that ITT will post 8.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets restated an “outperform” rating and issued a $273.00 price objective on shares of ITT in a report on Friday, August 7th. Citigroup boosted their target price on shares of ITT from $254.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. DA Davidson boosted their target price on shares of ITT from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Wolfe Research assumed coverage on shares of ITT in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $272.00 price objective for the company. Finally, Stifel Nicolaus set a $256.00 price target on ITT in a research note on Monday, October 19th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ITT has a consensus rating of “Moderate Buy” and an average target price of $260.22.

ITT Company Profile

ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.