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

ITT Inc. (NYSE:ITT) announced 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 0.96%. The ex-dividend date is Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32.

ITT has raised its dividend by an average of 13.2% per year over the last three years. ITT has a dividend payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ITT to earn $7.10 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 18.0%.

ITT Price Performance

ITT stock opened at $146.07 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.40. ITT has a 1 year low of $118.58 and a 1 year high of $161.13. The stock has a market capitalization of $11.91 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.80 and a beta of 1.41. The company’s fifty day moving average price is $147.84 and its 200 day moving average price is $144.82.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. As a group, equities research analysts anticipate that ITT will post 6.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group lifted their price target on ITT from $165.00 to $168.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com cut shares of ITT from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird dropped their price objective on ITT from $165.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Citigroup lowered 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. Finally, TD Cowen boosted their price objective on shares of ITT from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.