ITT Inc. (NYSE:ITT) Declares Dividend Increase – $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 dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32.

ITT has raised its dividend payment by an average of 13.2% annually over the last three years. ITT has a payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $7.10 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 18.0%.

ITT Trading Down 0.2 %

Shares of ITT opened at $146.07 on Friday. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.80 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. The stock has a fifty day moving average price of $147.84 and a two-hundred day moving average price of $144.82. ITT has a 52-week low of $118.58 and a 52-week high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Analysts predict that ITT will post 6.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group boosted their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen upped their price target on shares of ITT from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus cut their price objective on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a report on Friday, January 24th. StockNews.com lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird decreased their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

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.