ITT Inc. (NYSE:ITT) Increases Dividend to $0.35 Per Share

ITT Inc. (NYSE:ITT - Get Free Report) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Investors 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 annualized dividend and a dividend yield of 0.95%. The ex-dividend date 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 dividend payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of ITT stock traded up $1.41 on Monday, reaching $147.47. The company's stock had a trading volume of 386,139 shares, compared to its average volume of 374,918. ITT has a 52-week low of $118.95 and a 52-week high of $161.13. The company has a market capitalization of $12.02 billion, a P/E ratio of 23.41, a PEG ratio of 1.80 and a beta of 1.41. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $147.84 and a 200-day moving average price of $144.90.

ITT (NYSE:ITT - Get Free Report) last announced its 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 expect that ITT will post 6.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of ITT from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group upped their price objective on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday. TD Cowen lifted their target price on ITT from $150.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, October 31st. KeyCorp upped their price target on ITT from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Finally, Robert W. Baird decreased their price objective on ITT from $165.00 to $163.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.38.

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.