ITT Inc. (NYSE:ITT) Plans Quarterly Dividend of $0.35

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 annualized dividend and a dividend yield of 0.96%. This is an increase from ITT’s previous quarterly dividend of $0.32.

ITT has increased its dividend by an average of 13.2% annually over the last three years. ITT has a dividend payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $6.48 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 19.8%.

ITT Trading Down 2.2 %

NYSE ITT opened at $146.30 on Friday. ITT has a 12 month low of $118.58 and a 12 month high of $161.13. The company has a 50-day moving average of $148.05 and a 200-day moving average of $144.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.58 and a quick ratio of 1.09. The company has a market cap of $11.92 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.81 and a beta of 1.41.

ITT (NYSE:ITT) last posted its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 17.98% and a net margin of 13.67%. As a group, equities analysts predict that ITT will post 5.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ITT shares. KeyCorp raised their price objective on ITT from $164.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Citigroup cut their price objective on ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Robert W. Baird lowered their target price on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered ITT from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, ITT presently has a consensus rating of “Moderate Buy” and an average target price of $167.13.

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.