ITT Inc. (NYSE:ITT – Get Free Report) announced a quarterly dividend on Thursday, August 6th. Stockholders 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) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 8th.
ITT has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 10 years. ITT has a dividend payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect ITT to earn $9.50 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 16.2%.
ITT Stock Up 0.0%
Shares of NYSE ITT opened at $203.51 on Friday. The business has a 50-day moving average price of $200.61 and a 200 day moving average price of $199.69. The stock has a market cap of $18.19 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.26 and a debt-to-equity ratio of 0.60. ITT has a 52-week low of $166.96 and a 52-week high of $230.32.
Insider Buying and Selling at ITT
In other ITT news, CAO Graziano De sold 700 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $214.54, for a total value of $150,178.00. Following the transaction, the chief accounting officer directly owned 7,159 shares of the company’s stock, valued at approximately $1,535,891.86. The trade was a 8.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Luca Savi acquired 5,019 shares of the business’s stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $199.56 per share, with a total value of $1,001,591.64. Following the transaction, the chief executive officer owned 267,373 shares in the company, valued at $53,356,955.88. The trade was a 1.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.88% of the company’s stock.
Institutional Trading of ITT
Several institutional investors and hedge funds have recently made changes to their positions in ITT. Andina Capital Management LLC raised its stake in ITT by 1.6% in the 4th quarter. Andina Capital Management LLC now owns 3,166 shares of the conglomerate’s stock valued at $549,000 after purchasing an additional 49 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of ITT by 2.8% in the first quarter. Kestra Private Wealth Services LLC now owns 1,942 shares of the conglomerate’s stock valued at $370,000 after buying an additional 52 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of ITT by 5.1% during the first quarter. Whittier Trust Co. now owns 1,064 shares of the conglomerate’s stock valued at $207,000 after buying an additional 52 shares during the period. Toronto Dominion Bank lifted its stake in shares of ITT by 2.2% during the fourth quarter. Toronto Dominion Bank now owns 2,481 shares of the conglomerate’s stock valued at $430,000 after buying an additional 53 shares during the period. Finally, Stephens Inc. AR grew its stake in ITT by 3.8% in the 4th quarter. Stephens Inc. AR now owns 1,654 shares of the conglomerate’s stock worth $287,000 after acquiring an additional 60 shares during the period. 91.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
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