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

ITT Inc. (NYSE:ITT - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Friday, November 29th will be paid 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 0.88%. The ex-dividend date is Friday, November 29th.

ITT has raised its dividend by an average of 19.7% annually over the last three years. ITT has a dividend payout ratio of 19.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $6.51 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 Stock Down 0.8 %

Shares of ITT stock traded down $1.23 during trading hours on Wednesday, hitting $144.83. 659,314 shares of the company's stock traded hands, compared to its average volume of 385,030. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $142.60 and its two-hundred day simple moving average is $136.03. ITT has a 12-month low of $91.94 and a 12-month high of $153.99. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.92 and a beta of 1.40.

ITT (NYSE:ITT - Get Free Report) last released 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. The firm had revenue of $885.20 million for the quarter, compared to analysts' expectations of $884.50 million. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. On average, analysts expect that ITT will post 5.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ITT. The Goldman Sachs Group upped their price objective on ITT from $150.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Stifel Nicolaus increased their price objective 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 lifted their target price 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. Robert W. Baird lowered their price target on ITT from $165.00 to $163.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, TD Cowen lifted their price objective on ITT from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, July 15th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $156.11.

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.