ITT Inc. (NYSE:ITT) to Issue $0.32 Quarterly Dividend

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.319 per share by the conglomerate on Monday, September 30th. This represents a $1.28 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Tuesday, September 3rd.

ITT has raised its dividend payment by an average of 19.7% per year over the last three years. ITT has a dividend payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ITT to earn $6.52 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 19.6%.

ITT Trading Up 1.3 %

NYSE:ITT opened at $139.22 on Monday. The stock’s 50-day moving average is $134.00 and its two-hundred day moving average is $131.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The stock has a market cap of $11.37 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. ITT has a fifty-two week low of $91.94 and a fifty-two week high of $149.65.

ITT (NYSE:ITT) last released its quarterly earnings data on Thursday, August 1st. The conglomerate reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.03. ITT had a net margin of 12.47% and a return on equity of 18.30%. The firm had revenue of $905.90 million for the quarter, compared to analyst estimates of $916.38 million. During the same quarter in the prior year, the business earned $1.33 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that ITT will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group lifted their price objective on ITT from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp boosted their price target on ITT from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. TD Cowen raised their price objective on shares of ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Stifel Nicolaus increased their price target on shares of ITT from $150.00 to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $151.00.

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.