ITT Inc (NYSE:ITT) announced a quarterly dividend on Thursday, October 10th, Zacks reports. Stockholders of record on Monday, December 9th will be paid a dividend of 0.147 per share by the conglomerate on Monday, December 30th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th.
ITT opened at $69.64 on Wednesday. The stock has a market capitalization of $6.12 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.87 and a beta of 1.67. The stock’s 50 day moving average price is $65.62 and its 200-day moving average price is $61.66. ITT has a 52-week low of $44.89 and a 52-week high of $70.85.
ITT (NYSE:ITT) last released its quarterly earnings results on Friday, November 1st. The conglomerate reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.07. The business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $707.57 million. ITT had a net margin of 11.00% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, analysts forecast that ITT will post 3.74 earnings per share for the current fiscal year.
ITT has been the topic of a number of research reports. Zacks Investment Research upgraded shares of ITT from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research report on Monday, October 14th. DA Davidson increased their price target on shares of ITT from $75.00 to $80.00 and gave the stock a “positive” rating in a research note on Tuesday, November 19th. ValuEngine upgraded ITT from a “sell” rating to a “hold” rating in a report on Friday, November 1st. KeyCorp upped their target price on ITT from $70.00 to $80.00 in a report on Wednesday, November 27th. Finally, Robert W. Baird set a $75.00 target price on ITT and gave the stock a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.29.
ITT announced that its board has approved a stock buyback program on Friday, November 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the conglomerate to purchase up to 8.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
ITT Company Profile
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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