ITT Inc. (ITT) To Go Ex-Dividend on March 6th

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Thursday, February 6th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from ITT’s previous quarterly dividend of $0.32.

ITT has increased its dividend payment by an average of 13.2% 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 $7.14 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 19.6%.

ITT Stock Down 2.8 %

ITT stock opened at $137.30 on Tuesday. The firm has a 50 day moving average of $145.76 and a 200 day moving average of $146.01. The stock has a market capitalization of $11.18 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. ITT has a 52 week low of $121.01 and a 52 week high of $161.13.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. ITT had a net margin of 14.27% and a return on equity of 18.03%. Sell-side analysts forecast that ITT will post 6.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ITT has been the subject of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of ITT from $180.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, January 24th. UBS Group raised their price objective on shares of ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 7th. KeyCorp lifted their target price on shares of ITT from $164.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Citigroup decreased their target price on shares of ITT from $183.00 to $181.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ITT has a consensus rating of “Moderate Buy” and a consensus price target of $168.38.

About ITT

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.