ITT Inc. (ITT) To Go Ex-Dividend on November 29th

ITT Inc. (NYSE:ITT) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Friday, November 29th will be given a dividend of 0.319 per share by the conglomerate on Tuesday, December 31st. This represents a $1.28 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, November 29th.

ITT has raised its dividend payment by an average of 19.7% annually over the last three years. ITT has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 0.9 %

ITT opened at $144.78 on Thursday. ITT has a 12 month low of $91.94 and a 12 month high of $153.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.55 and a quick ratio of 1.10. The stock has a market cap of $11.83 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.92 and a beta of 1.40. The stock’s 50 day moving average price is $142.79 and its 200 day moving average price is $136.09.

ITT (NYSE:ITT) last issued its quarterly earnings results on Tuesday, October 29th. The conglomerate reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. ITT had a return on equity of 18.30% and a net margin of 12.47%. The company had revenue of $885.20 million for the quarter, compared to analysts’ expectations of $884.50 million. During the same period last year, the firm earned $1.37 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts predict that ITT will post 5.84 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ITT. Stifel Nicolaus lifted their price target on ITT from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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 research report on Wednesday. TD Cowen lifted their price target on ITT from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. KeyCorp lifted their price target on ITT from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on ITT from $150.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus 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.