ITT Inc. (NYSE:ITT) Declares $0.39 Quarterly Dividend

Key Points

• ITT declared a quarterly dividend of $0.386 per share, payable October 5 to shareholders of record on September 8. The dividend produces an annualized yield of approximately 0.7%, and the company has raised its payout for 10 consecutive years.
• ITT’s dividend appears well covered, with a 21.5% payout ratio and analysts expecting that ratio to decline to 16.8% based on projected earnings next year.
• The company reported quarterly adjusted earnings of $2.08 per share and revenue of $1.47 billion, beating analyst estimates; revenue increased 51.5% year over year. Institutional investors own 91.59% of ITT’s shares.

ITT Inc. (NYSE:ITT - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Tuesday, September 8th will be given a dividend of 0.386 per share by the conglomerate on Monday, October 5th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 8th.

ITT has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 10 years. ITT has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $9.18 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 16.8%.

ITT Stock Up 4.8%

Shares of NYSE:ITT opened at $213.83 on Friday. ITT has a 1-year low of $164.00 and a 1-year high of $230.32. The company's fifty day moving average is $193.78 and its two-hundred day moving average is $196.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.53. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.27.

ITT (NYSE:ITT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The conglomerate reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.16. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.39 billion. ITT had a net margin of 10.80% and a return on equity of 16.83%. ITT's quarterly revenue was up 51.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. ITT has set its FY 2026 guidance at 8.120-8.320 EPS. Equities analysts anticipate that ITT will post 7.89 EPS for the current year.

Institutional Investors Weigh In On ITT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in ITT by 55,929.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,518,405 shares of the conglomerate's stock valued at $263,458,000 after buying an additional 1,515,695 shares in the last quarter. Norges Bank acquired a new stake in shares of ITT during the fourth quarter valued at approximately $194,884,000. Vanguard Group Inc. lifted its position in shares of ITT by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,460,467 shares of the conglomerate's stock valued at $1,467,976,000 after acquiring an additional 620,217 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in ITT in the 2nd quarter worth approximately $119,853,000. Finally, Findlay Park Partners LLP raised its stake in ITT by 63.2% during the 4th quarter. Findlay Park Partners LLP now owns 1,230,902 shares of the conglomerate's stock valued at $213,574,000 after purchasing an additional 476,702 shares during the period. Institutional investors and hedge funds own 91.59% of the company's stock.

ITT Company Profile

ITT Inc is a diversified industrial manufacturing company that designs, manufactures and services mission-critical components and systems for global markets. Its engineered solutions support applications in aerospace, defense, transportation, energy and industrial automation. The company focuses on delivering high-performance products that enable reliable fluid handling, precision motion control and robust connectivity in demanding environments.

The company's operations are organized into three segments: Motion Technologies, which provides precision components and aftermarket repair services for aircraft engines and industrial turbines; Connect & Control Technologies, which offers specialty valves, couplings, seals and proximity sensors for fuel, hydraulics and environmental control systems; and Fluid & Motion Control, which delivers pumps, heat exchangers and fluid management solutions for oil and gas, chemical processing and power generation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source