ITT Inc. (NYSE:ITT) Plans $0.32 Quarterly Dividend

ITT Inc. (NYSE:ITT) announced 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 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, November 29th.

ITT has raised its dividend by an average of 19.7% per year over the last three years. ITT has a payout ratio of 19.5% meaning 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 %

NYSE ITT opened at $158.68 on Wednesday. The stock has a market cap of $12.93 billion, a PE ratio of 27.08, a PEG ratio of 2.07 and a beta of 1.41. ITT has a 12 month low of $107.01 and a 12 month high of $161.13. The company’s 50-day moving average price is $148.76 and its 200-day moving average price is $138.88. The company has a current ratio of 1.58, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ITT. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird lowered their price objective on shares of ITT from $165.00 to $163.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus raised their target price on shares of ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. KeyCorp upped their price target on shares of ITT from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of ITT from $150.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, ITT has a consensus rating of “Buy” and a consensus 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.