ITT Inc. (ITT) Plans Quarterly Dividend of $0.13

ITT Inc. (NYSE:ITT) declared a quarterly dividend on Wednesday, October 11th, RTT News reports. Investors of record on Friday, December 8th will be paid a dividend of 0.128 per share by the conglomerate on Friday, December 29th. This represents a $0.51 annualized dividend and a yield of 1.12%.

ITT has increased its dividend by an average of 7.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. ITT has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 18.1%.

Shares of ITT (NYSE ITT) traded up 0.81% during trading on Thursday, reaching $46.06. 80,045 shares of the company traded hands. The firm has a market capitalization of $4.05 billion, a PE ratio of 19.73 and a beta of 1.48. The firm has a 50-day moving average price of $42.43 and a 200-day moving average price of $40.79. ITT has a 12 month low of $32.46 and a 12 month high of $46.76.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Equities research analysts anticipate that ITT will post $2.47 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “ITT Inc. (ITT) Plans Quarterly Dividend of $0.13” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/12/itt-inc-itt-plans-quarterly-dividend-of-0-13.html.

Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $51.00 price objective on shares of ITT in a research report on Wednesday, October 4th. Deutsche Bank AG raised shares of ITT from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $55.00 in a research report on Monday. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price objective on shares of ITT in a research report on Thursday, September 21st. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, July 28th. Finally, ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $48.00.

In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

About ITT

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, sol

ITT has increased its dividend by an average of 7.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. ITT has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ITT to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 18.1%.

Shares of ITT (NYSE ITT) traded up 0.81% during trading on Thursday, reaching $46.06. 80,045 shares of the company traded hands. The firm has a market capitalization of $4.05 billion, a PE ratio of 19.73 and a beta of 1.48. The firm has a 50-day moving average price of $42.43 and a 200-day moving average price of $40.79. ITT has a 12 month low of $32.46 and a 12 month high of $46.76.

ITT (NYSE:ITT) last posted its quarterly earnings results on Friday, August 4th. The conglomerate reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $630.90 million during the quarter, compared to analysts’ expectations of $628.65 million. ITT had a net margin of 8.64% and a return on equity of 14.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Equities research analysts anticipate that ITT will post $2.47 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “ITT Inc. (ITT) Plans Quarterly Dividend of $0.13” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/12/itt-inc-itt-plans-quarterly-dividend-of-0-13.html.

Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $51.00 price objective on shares of ITT in a research report on Wednesday, October 4th. Deutsche Bank AG raised shares of ITT from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $55.00 in a research report on Monday. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price objective on shares of ITT in a research report on Thursday, September 21st. Zacks Investment Research raised shares of ITT from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, July 28th. Finally, ValuEngine lowered shares of ITT from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $48.00.

In other news, insider Mary Elizabeth Gustafsson sold 5,000 shares of ITT stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $42.90, for a total value of $214,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

About ITT

ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.

Dividend History for ITT (NYSE:ITT)

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