ITT Inc. (ITT) To Go Ex-Dividend on December 4th

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Friday, December 4th will be paid a dividend of $0.3860 per share by the conglomerate on Thursday, December 31st. This represents a $1.54 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, December 4th.

ITT has raised its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. ITT has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $9.50 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 16.2%.

ITT Trading Down 2.7%

NYSE ITT opened at $195.53 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $201.19 and a 200-day moving average price of $199.22. ITT has a 52 week low of $166.96 and a 52 week high of $230.32. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 40.23, a P/E/G ratio of 1.64 and a beta of 1.25.

ITT (NYSE:ITT) last released its quarterly earnings data on Wednesday, November 4th. The conglomerate reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.18. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. ITT had a net margin of 8.07% and a return on equity of 15.66%. The business’s quarterly revenue was up 44.2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. As a group, equities analysts expect that ITT will post 8.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

ITT has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of ITT from $250.00 to $263.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings lowered ITT from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Wolfe Research started coverage on shares of ITT in a research note on Tuesday, September 15th. They set an “outperform” rating and a $272.00 price target on the stock. Stifel Nicolaus set a $256.00 target price on ITT in a research note on Monday, October 19th. Finally, DA Davidson boosted their price target on shares of ITT from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.22.

ITT Company Profile

ITT Inc (NYSE: ITT) is a global industrial manufacturer that designs and produces highly engineered components and technology solutions for transportation, industrial, energy, aerospace, defense and other specialized markets. The company serves original equipment manufacturers, distributors and end users through operations in North America, Europe, Asia and other international markets.

ITT operates through three primary business segments. Motion Technologies develops brake pads, shock absorbers, sealing products and other engineered components used in automotive, rail and related transportation applications.