ITT Inc. manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide. The company operates through three segments: Motion Technologies, Industrial Process, and Connect & Control Technologies. 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, light- and heavy-duty commercial and military vehicles, buses, and rail. The Industrial Process segment designs and manufactures industrial pumps, valves, and plant optimization and remote monitoring systems and services; and centrifugal process pumps, twin screws, axials, and positive displacement pumps, and water systems, as well as aftermarket solutions, such as repairs and upgrades services. It serves various customers in industries, such as chemical, oil and gas, mining, and other industrial process markets. The Connect & Control Technologies segment designs and manufactures a range of engineered connectors and specialized control components for critical applications supporting various markets, including aerospace and defense, industrial, transportation, medical, and oil and gas. This segment's connector product portfolio includes electrical connectors, such as circular, rectangular, radio frequency, fiber optic, D-sub miniature, micro-miniature, and cable assemblies; and control products consist of fuel and water pumps, valves, electro-mechanical rotary and linear actuators, and pressure, temperature, limit, and flow switches for various aircraft systems. ITT Inc. was incorporated in 1920 and is headquartered in White Plains, New York.
IPO Year: 2011
Exchange: NYSE
Website: itt.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/16/2023 | $105.00 → $125.00 | Neutral → Buy | BofA Securities |
| 7/11/2022 | $113.00 → $74.00 | Buy → Neutral | BofA Securities |
| 4/8/2022 | $107.00 → $95.00 | Neutral → Buy | UBS |
| 3/28/2022 | Outperform → Perform | Oppenheimer | |
| 12/8/2021 | $112.00 → $130.00 | Neutral → Buy | BofA Securities |
| 8/9/2021 | $107.00 → $110.00 | Outperform | Oppenheimer |
| 8/6/2021 | $105.00 → $113.00 | Overweight | Keybanc |
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Oct. 1, 2024-- ITT Inc. (NYSE:ITT) today announced the election of Maggie Chu to its Board of Directors. Ms. Chu currently serves as Chief Human Resources Officer of Littelfuse, Inc. (NASDAQ:LFUS), a global manufacturer of circuit protection and power control components serving customers across industrial, transportation and electronics end markets with a market capitalization of more than $6 billion. She has been with Littelfuse since 2021 and currently leads the company's human resources (HR) and corporate communications functions globally. Ms. Chu's appointment to the ITT board is effective immediately. "Maggie is an experienced and seasoned Human Resources executive with a robust track
February 26, 2024-- ITT Inc. (NYSE:ITT) today announced the appointment of Michael G. Guhde as president of its Connect & Control Technologies (CCT) business, reporting to Chief Executive Officer Luca Savi. CCT, one of ITT's three segments, is a leading manufacturer of connectors and control components for critical applications in the aerospace, defense and industrial markets. Guhde will be based at CCT's headquarters in Irvine, CA. Guhde joins ITT from Illinois Tool Works (NYSE:ITW), where he led a large, global business serving the automotive industry through the development and manufacture of highly engineered components. In this role, he oversaw several business improvements that led
Jan. 17, 2024-- ITT Inc. (NYSE:ITT) today announced the election of Sharon Szafranski to its Board of Directors. Ms. Szafranski currently serves as Executive Vice President of the Welding segment at Illinois Tool Works (ITW), a Fortune 200 global multi-industrial manufacturing leader with revenues of more than $15 billion in 2022. Ms. Szafranski began her career at ITW in 1994. "On behalf of the entire Board of Directors of ITT, I would like to welcome Sharon to the ITT Board. She is an accomplished executive with more than thirty years of manufacturing experience and brings extensive multi-industry and global business expertise as a sitting senior leader at ITW," said ITT Chairman of the
October 4, 2023-- ITT Inc. (NYSE:ITT) today announced the election of Nazzic Keene and Kevin Berryman to its Board of Directors. The company also announced that its Board of Directors approved a $1 billion share repurchase authorization with an indefinite term. Repurchases under this authorization will begin upon the expiration of the current $500 million authorization. "We are delighted to appoint to the ITT Board two highly respected, results-driven leaders with long track records of success," said ITT Chairman of the Board, Timothy H. Powers. "These appointments demonstrate our stated commitment to board refreshment and represent an important step in the continued evolution of director
August 1, 2023-- ITT Inc. (NYSE:ITT) today announced the appointment of Fernando Roland as president of its Industrial Process (IP) business, reporting to Chief Executive Officer Luca Savi. Roland succeeds David Steblein, who retired earlier this year after more than 30 years with the company. IP, one of ITT's three segments, is a global leader in centrifugal and twin-screw pumps for chemical, energy, mining and industrial markets. Roland joins ITT after two decades in various senior leadership roles at multinational manufacturing conglomerates, including Continental AG, Hyosung Corporation and DuPont. He most recently served as Senior Vice President of Continental AG's Customer Engineere
The Nation's First Virtual Manufactured Homes Dealership Appoints New CFO, VP-Engineering, and VP-Marketing to Meet Needs of Booming Business SAN ANTONIO, Aug 22, 2022 /PRNewswire-PRWeb/ -- Braustin Homes, the nation's first virtual manufactured home dealership, is growing their leadership team with three new positions that will provide the financial, engineering and marketing expertise needed to expand offerings to help more potential homeowners find and finance affordable housing in Texas. "The largest. generation of first-time home buyers we've ever seen is finding a shortage of homes available for $250,000 and under," says Braustin Homes CEO Alberto Piña. "While traditional housing avail
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--ITT Inc. (NYSE: ITT) today announced the appointment of Mark Macaluso as vice president of investor relations. In this role, Macaluso will lead the development and execution of ITT’s global investor relations strategy and serve as the Company’s primary liaison with its shareholders and the investment community. Macaluso joins ITT from Honeywell, where he spent more than 12 years in various financial leadership positions, most recently serving as vice president of financial planning and analysis for one of Honeywell’s four strategic business groups. Previously, Macaluso served for five years as vice president of investor relations at Honeywell wh
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November 18, 2024-- ITT Inc. (NYSE: ITT) today announced its participation at the UBS Global Industrials & Transportation Conference 2024 on Dec. 4 in Palm Beach, Florida. Chief Financial Officer Emmanuel Caprais will present from 8:50-9:30 a.m. Eastern Time on Dec. 4. A live audio webcast of the presentation can be accessed at http://investors.itt.com. Replays of the presentation will be available for 30 days. About ITT ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring
November 12, 2024-- ITT Inc. (NYSE: ITT) today released its 2024 Sustainability Report, which details the company's progress towards the sustainability targets it established in November 2022. The report also details the company's leading position as a provider of critical green solutions in the transportation, energy and process flow markets, as well as the increased investments in clean energy across its operations globally. "We firmly believe that a strong sustainability program entrenched in the company's strategy enhances ITT's resilience. We believed in the benefits of creating a more sustainable company for all our stakeholders when we set our long-term targets in 2022. And more th
17% orders growth (14% organic) driven by pump project awards, rail share gains and connectors demand 8% revenue growth (6% organic) driven by strength across all segments 610 basis points operating margin expansion to 23.5%, including $48 million preliminary gain on divestiture of Wolverine Advanced Materials (Wolverine); 60 basis points adjusted operating margin expansion to 18.3% 46% EPS growth primarily driven by the gain on the Wolverine divestiture; 7% adjusted EPS growth driven by pricing actions, volume and productivity Raising midpoint of full year EPS guidance given continued outperformance Oct. 29, 2024-- ITT Inc. (NYSE:ITT) today reported financial results for the
October 25, 2024-- ITT Inc. (NYSE:ITT) today announced its participation at the Baird 2024 Global Industrial Conference on Nov. 13 in Chicago. Chief Executive Officer and President Luca Savi and Chief Financial Officer Emmanuel Caprais will present at 1:10 p.m. Central Time. A live audio webcast of the presentation can be accessed at http://investors.itt.com. Replays of the presentation will be available for 30 days. About ITT ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduri
October 4, 2024-- ITT Inc. (NYSE:ITT) will release its third quarter 2024 financial results before the opening of the New York Stock Exchange on Tuesday, Oct. 29. The company will hold a conference call at 8:30 a.m. ET on Oct. 29 to discuss its third quarter performance. To participate on the conference call, click here to register. After completing the online registration form, participants will receive the dial-in number and a unique PIN. Participants should join the call ten minutes before 8:30 a.m. ET on Tuesday, Oct. 29. A real-time audio webcast of the presentation will also be available at https://investors.itt.com, where related materials will be available prior to the presentation
Oct. 1, 2024-- ITT Inc. (NYSE:ITT) today announced the election of Maggie Chu to its Board of Directors. Ms. Chu currently serves as Chief Human Resources Officer of Littelfuse, Inc. (NASDAQ:LFUS), a global manufacturer of circuit protection and power control components serving customers across industrial, transportation and electronics end markets with a market capitalization of more than $6 billion. She has been with Littelfuse since 2021 and currently leads the company's human resources (HR) and corporate communications functions globally. Ms. Chu's appointment to the ITT board is effective immediately. "Maggie is an experienced and seasoned Human Resources executive with a robust track
September 12, 2024-- ITT Inc. (NYSE:ITT) today announced the completion of its acquisition of kSARIA Parent, Inc. (kSARIA), a leading producer and supplier of mission-critical connectivity solutions for the defense and aerospace end markets. ITT previously announced the acquisition on Aug. 1, 2024. The acquisition will be funded through a combination of a ~$460 million term loan entered into today and cash on hand. kSARIA produces highly engineered cable assemblies for avionics, sensors, communications and networking applications that are highly complementary to ITT's existing connector portfolio. It operates in a nearly $7 billion addressable North American defense market that is expected
September 4, 2024-- ITT Inc. (NYSE:ITT) today announced its participation at the D.A. Davidson 23rd Annual Diversified Industrials & Services Conference on Sept. 19 in Nashville, Tennessee. Chief Executive Officer and President Luca Savi and Chief Financial Officer Emmanuel Caprais will present from 8:45-9:20 a.m. Central Time on Sept. 19. A live audio webcast of the presentation can be accessed at http://investors.itt.com. A replay of the presentation will be available for 30 days. About ITT ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its he
NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Behrman Capital, a private equity investment firm based in New York, today announced that it has entered into a definitive agreement to sell its portfolio company kSARIA Holdings ("kSARIA" or "the company"), a leading producer and supplier of mission-critical connectivity solutions for the aerospace and defense end markets, to ITT Inc. ((", ITT", , NYSE:ITT) in a transaction valued at approximately $475 million. Founded in 2000, kSARIA brings extensive process technology and engineering expertise to the high-reliability connectivity industry, offering interconnect products and services with superior performance, quality and value to the Mil/Aero end ma
9% revenue growth (6% organic) driven by higher sales volumes across all segments and the acquisition of Svanehøj 60 basis points operating margin expansion to 17.6%; 100 basis points adjusted operating margin expansion to 18.0% 11% EPS growth (12% adjusted) driven by volume, productivity and value pricing Signed definitive agreement to acquire kSARIA, leading provider of highly engineered, mission critical interconnect solutions for the defense and aerospace markets and divested Wolverine Advanced Materials (Wolverine) business, manufacturer of automotive components, in July Maintaining full year revenue, operating margin, EPS and cash flow guidance despite $0.15 impact from d
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17% orders growth (14% organic) driven by pump project awards, rail share gains and connectors demand 8% revenue growth (6% organic) driven by strength across all segments 610 basis points operating margin expansion to 23.5%, including $48 million preliminary gain on divestiture of Wolverine Advanced Materials (Wolverine); 60 basis points adjusted operating margin expansion to 18.3% 46% EPS growth primarily driven by the gain on the Wolverine divestiture; 7% adjusted EPS growth driven by pricing actions, volume and productivity Raising midpoint of full year EPS guidance given continued outperformance Oct. 29, 2024-- ITT Inc. (NYSE:ITT) today reported financial results for the
October 4, 2024-- ITT Inc. (NYSE:ITT) will release its third quarter 2024 financial results before the opening of the New York Stock Exchange on Tuesday, Oct. 29. The company will hold a conference call at 8:30 a.m. ET on Oct. 29 to discuss its third quarter performance. To participate on the conference call, click here to register. After completing the online registration form, participants will receive the dial-in number and a unique PIN. Participants should join the call ten minutes before 8:30 a.m. ET on Tuesday, Oct. 29. A real-time audio webcast of the presentation will also be available at https://investors.itt.com, where related materials will be available prior to the presentation
9% revenue growth (6% organic) driven by higher sales volumes across all segments and the acquisition of Svanehøj 60 basis points operating margin expansion to 17.6%; 100 basis points adjusted operating margin expansion to 18.0% 11% EPS growth (12% adjusted) driven by volume, productivity and value pricing Signed definitive agreement to acquire kSARIA, leading provider of highly engineered, mission critical interconnect solutions for the defense and aerospace markets and divested Wolverine Advanced Materials (Wolverine) business, manufacturer of automotive components, in July Maintaining full year revenue, operating margin, EPS and cash flow guidance despite $0.15 impact from d
July 9, 2024-- ITT Inc. (NYSE:ITT) will release its second quarter 2024 financial results before the opening of the New York Stock Exchange on Thursday, Aug. 1. The company will hold a conference call at 8:30 a.m. ET on Aug. 1 to discuss its second quarter performance. To participate on the conference call, click here to register. After completing the online registration form, participants will receive the dial-in number and a unique PIN. Participants should join the call ten minutes before 8:30 a.m. ET on Thursday, Aug. 1. A real-time audio webcast of the presentation will also be available at https://investors.itt.com, where related materials will be available prior to the presentatio
13% orders growth (7% organic) driven by improved connectors demand, aerospace and defense components ramp, and Friction and rail share gains 14% revenue growth (9% organic), surpassing $900 million in revenue for the quarter, driven by higher volume in all businesses 80 basis points operating margin expansion to 16.4%; 120 basis points adjusted operating margin expansion to 17.0% 12% EPS growth (21% adjusted) driven by higher sales volume and productivity Raising 2024 full year guidance May 2, 2024-- ITT Inc. (NYSE:ITT) today reported financial results for the first quarter ended March 30, 2024. Revenue increased 14% (9% organic), primarily driven by pump projects in In
April 11, 2024-- ITT Inc. (NYSE:ITT) will release its first quarter 2024 financial results before the opening of the New York Stock Exchange on Thursday, May 2. The company will hold a conference call at 8:30 a.m. ET on May 2 to discuss its first quarter performance. To participate on the conference call, click here to register. After completing the online registration form, participants will receive the dial-in number and a unique PIN. Participants should join the call ten minutes before 8:30 a.m. ET on Thursday, May 2. A real-time audio webcast of the presentation will also be available at https://investors.itt.com, where related materials will be available prior to the presentation.
Full Year 2023 Highlights: 10% revenue growth (8% organic) driven by higher volume, pricing actions, favorable foreign currency impacts and acquisitions 16.1% operating margin, up 40 basis points; 16.9% adjusted operating margin, up 100 basis points Operating cash flow of $538 million, up $260 million; free cash flow of $430 million, up $257 million Initiates 2024 EPS guidance up 13% at the midpoint (adjusted EPS up 9% at the midpoint) February 8, 2024-- ITT Inc. (NYSE:ITT) today reported financial results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported a year-over-year revenue increase of 7%, up 4% on an organic b
Feb. 5, 2024-- ITT Inc. (NYSE:ITT) today announced the company has signed a three-year agreement for the supply of API-610 centrifugal pump systems and related products and engineered services to ExxonMobil, one of the world's largest international energy and petrochemical companies. The agreement contains a $50 million minimum contract commitment, with a total potential value of $80 million in revenue over the term, and represents the largest single contract ever awarded to Goulds Pumps, ITT's industrial pumps and valves manufacturer. Goulds Pumps, a part of ITT's Industrial Process (IP) segment, will provide heavy duty engineered centrifugal pump systems and aftermarket parts and servic
Jan. 11, 2024-- ITT Inc. (NYSE:ITT) will release its fourth quarter and full year 2023 financial results and its 2024 outlook before the opening of the New York Stock Exchange on Thursday, Feb. 8, 2024. The company will hold a conference call on Feb. 8 at 8:30 a.m. Eastern Time to discuss its 2023 results and 2024 outlook. To participate on the conference call, click here to register. After completing the online registration form, participants will receive the dial-in number and a unique PIN. Participants should join the call ten minutes before 8:30 a.m. Eastern Time on Thursday, Feb. 8. A real-time audio webcast of the presentation will also be available at https://investors.itt.com, w
9% revenue growth (5% organic) driven by pump projects and aftermarket, aerospace and defense components, and Friction OE outperformance 19.1% segment operating margin (19.4% adjusted), 150 basis points expansion (120 basis points adjusted); segment operating income increased 19% (17% adjusted) Year-to-date operating cash flow of $368 million, free cash flow of $299 million Raising 2023 full year guidance across all metrics November 2, 2023-- ITT Inc. (NYSE:ITT) today reported financial results for the third quarter ended September 30, 2023. The company reported a year-over-year revenue increase of 9%, primarily driven by 13% growth in both Industrial Process and Connect & C
BofA Securities upgraded ITT from Neutral to Buy and set a new price target of $125.00 from $105.00 previously
BofA Securities downgraded ITT from Buy to Neutral and set a new price target of $74.00 from $113.00 previously
UBS upgraded ITT from Neutral to Buy and set a new price target of $95.00 from $107.00 previously
Oppenheimer downgraded ITT from Outperform to Perform
BofA Securities upgraded ITT from Neutral to Buy and set a new price target of $130.00 from $112.00 previously
Oppenheimer reiterated coverage of ITT with a rating of Outperform and set a new price target of $110.00 from $107.00 previously
Keybanc reiterated coverage of ITT with a rating of Overweight and set a new price target of $113.00 from $105.00 previously
Citigroup initiated coverage of ITT with a rating of Buy and set a new price target of $113.00
Gordon Haskett downgraded ITT from Buy to Hold and set a new price target of $101.00
UBS downgraded ITT from Buy to Neutral and set a new price target of $107.00 from $92.00 previously
Stifel analyst Nathan Jones maintains ITT (NYSE:ITT) with a Buy and raises the price target from $150 to $157.
ITT (NYSE:ITT) has outperformed the market over the past 15 years by 6.8% on an annualized basis producing an average annual return of 19.36%. Currently, ITT has a market capitalization of $11.77 billion. Buying $100 In ITT: If an investor had bought $100 of ITT stock 15 years ago, it would be worth $1,415.33 today based on a price of $143.06 for ITT at the time of writing. ITT's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an editor.
TD Cowen analyst Joseph Giordano maintains ITT (NYSE:ITT) with a Buy and raises the price target from $125 to $150.
Svanehøj, acquired in January 2024 by ITT designs and manufactures specialized cryogenic deepwell and submersible pumps for the marine sector
ITT's (NYSE:ITT) short percent of float has fallen 10.14% since its last report. The company recently reported that it has 793 thousand shares sold short, which is 1.24% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.99 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is import
UBS analyst Damian Karas maintains ITT (NYSE:ITT) with a Buy and raises the price target from $135 to $158.
2024 Guidance We now expect revenue growth of 9% to 12%, up 4% to 7% on an organic basis; operating margin of 16.9% to 17.5% and adjusted operating margin of 17.1% to 17.7%, up 20 to 80 bps (up 100 to 160 bps excluding the Svanehøj acquisition dilution); full year EPS of $5.51 to $5.76 and adjusted EPS of $5.65 to $5.90, up 8% to 13% for the full year. We continue to expect free cash flow of $435 million to $475 million, representing 12% to 13% free cash flow margin for the full year. It is not possible, without unreasonable efforts, to estimate the impacts of foreign currency fluctuations, acquisitions and certain other special items that may occur in 2024 as these items are inherently un