ITT Inc (NYSE:ITT) declared a quarterly dividend on Thursday, October 10th, RTT News reports. Investors of record on Monday, December 9th will be paid a dividend of 0.147 per share by the conglomerate on Monday, December 9th. This represents a $0.59 annualized dividend and a yield of 0.99%.
ITT has raised its dividend by an average of 4.2% annually over the last three years and has increased its dividend every year for the last 6 years. ITT has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ITT to earn $3.91 per share next year, which means the company should continue to be able to cover its $0.59 annual dividend with an expected future payout ratio of 15.1%.
Shares of NYSE:ITT opened at $59.35 on Friday. ITT has a 52-week low of $44.89 and a 52-week high of $66.88. The stock has a market cap of $4.92 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 1.58 and a beta of 1.60. The business’s 50 day moving average is $58.51 and its 200 day moving average is $60.42.
ITT (NYSE:ITT) last announced its quarterly earnings data on Friday, August 2nd. The conglomerate reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. ITT had a return on equity of 16.68% and a net margin of 10.85%. The company had revenue of $719.90 million for the quarter, compared to analysts’ expectations of $703.80 million. During the same quarter in the prior year, the firm earned $0.82 earnings per share. As a group, sell-side analysts anticipate that ITT will post 3.62 EPS for the current fiscal year.
Several research analysts recently issued reports on the company. Oppenheimer set a $72.00 price objective on ITT and gave the stock a “buy” rating in a research note on Friday, July 19th. ValuEngine cut ITT from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $66.20.
ITT Inc manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates in three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. The Motion Technologies segment manufactures braking pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, light- and heavy-duty commercial and military vehicles, buses, and rail.
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