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Itt Inc - ITT STOCK NEWS

Welcome to our dedicated page for Itt news (Ticker: ITT), a resource for investors and traders seeking the latest updates and insights on Itt stock.

Overview of ITT Inc

ITT Inc is a diversified manufacturer specializing in engineered critical components and customized technology solutions. Operating predominantly within the industrial, transportation, and energy markets, ITT Inc offers a robust portfolio of products such as brake pads, shock absorbers, pumps, valves, connectors, and switches. These offerings are designed to meet the rigorous demands of mission-critical applications in diverse sectors, making ITT Inc a pivotal player in sectors where specialized engineered solutions are essential.

Business Segments and Core Operations

The company’s operations are organized into key segments: Motion Technologies, which supplies high-reliability parts for transportation markets, including brake pads, energy absorption components, and damping technologies; Industrial Process, which manufactures fluid process equipment essential to the oil and gas, mining, power generation, and chemical industries; and Connect & Control Technologies, which focuses on delivering innovative interconnect solutions. Such a diversified structure allows ITT Inc to address a variety of industry needs by leveraging advanced engineering and state-of-the-art manufacturing processes.

Engineering Excellence and Market Approach

ITT Inc has built a reputation for its deep engineering expertise and innovation. The company’s customized technology solutions are developed using sophisticated designs and rigorous quality standards, ensuring they perform reliably in harsh environments and mission-critical applications. This attention to detail and commitment to quality enables ITT Inc to maintain strong market positions in competitive sectors. Strategic acquisitions, such as the recent integration of a leading provider of connectivity solutions, have further bolstered its capabilities, particularly in aerospace and defense markets.

Global Presence and Competitive Landscape

Headquartered in White Plains, New York, ITT Inc operates with a global outlook, serving customers in over a hundred countries. The company’s expansive geographic footprint ensures a diversified revenue stream and enhances its ability to respond to localized market demands. In a competitive landscape, ITT Inc differentiates itself by combining a long-standing history with innovative engineering approaches, which collectively address complex customer challenges and set the company apart among its peers.

Industry Impact and Value Proposition

At the heart of ITT Inc’s operations is a commitment to delivering solutions that drive performance in industries where failure is not an option. Its engineered products are integral to automotive safety systems, industrial process reliability, and advanced connectivity in aerospace and defense. The company’s emphasis on superior quality and specialized service offerings underscores its value proposition: providing tailored solutions that are crucial for operational efficiency and safety in high-stakes environments.

Understanding ITT Inc for Investors and Industry Observers

  • Expertise and Innovation: With nearly a century of engineering excellence, ITT Inc continuously evolves its product development processes to meet emerging industry challenges.
  • Comprehensive Solutions: The company’s diversified business segments and global presence ensure that it caters to a wide range of industrial, transportation, and energy applications.
  • Strategic Acquisitions: Targeted acquisitions have enriched its portfolio, enabling ITT Inc to expand its service capabilities, particularly in high-reliability connectivity solutions for critical applications.
  • Market Positioning: By focusing on engineered components that require precision and robustness, ITT Inc sustains a competitive edge in niche market segments where specialized expertise is crucial.

This detailed overview encapsulates ITT Inc’s core operations, distinctive market position, and strategic approach, providing a comprehensive resource for investors and industry professionals seeking to understand the company’s business model and operational framework.

Rhea-AI Summary
ITT Inc. appoints Michael G. Guhde as president of Connect & Control Technologies, bringing vast experience in component manufacturing. Guhde's track record includes driving growth, innovation, and customer satisfaction in previous roles.
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ITT Inc. (NYSE: ITT) reported a 10% revenue growth in 2023, driven by higher volume, pricing actions, favorable foreign currency impacts, and acquisitions. The operating margin increased by 40 basis points, and the company reported an operating cash flow of $538 million, up $260 million from the previous year. The company also initiated 2024 EPS guidance up 13% at the midpoint.
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ITT Inc. (NYSE: ITT) will be presenting at two investor conferences on Feb. 22, 2024. The company's CEO and CFO will participate in the Citibank Global Industrial Tech and Mobility Conference in Miami and the 34th Annual Gabelli Pump, Valve & Water Systems Symposium in New York. Both presentations will be available for live audio webcast and replays for 30 days.
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ITT Inc. signs a three-year agreement with ExxonMobil for the supply of API-610 centrifugal pump systems and related products, with a minimum contract commitment of $50 million and a total potential value of $80 million in revenue over the term. The agreement represents the largest single contract ever awarded to Goulds Pumps, ITT's industrial pumps and valves manufacturer. ITT's Industrial Process segment will provide heavy duty engineered centrifugal pump systems and aftermarket parts and services to ExxonMobil to support its existing operations, primarily in North America. The agreement allows ExxonMobil to leverage ITT technology to enhance user experience and lower the total cost of ownership through shortened project cycle times. ITT's CEO and President, Luca Savi, expressed gratitude for the partnership and highlighted their commitment to delivering high-quality pumps and a frictionless customer experience. The Industrial Process segment, with ~$1 billion in revenue in 2022, is a global leader in centrifugal and twin-screw pumps for various markets.
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ITT Inc. (NYSE: ITT) completes the acquisition of Svanehøj Group A/S, a leading supplier of pumps and aftermarket services for the marine sector. The acquisition, announced in November 2023, was primarily funded through a €300 million term loan. Svanehøj's product portfolio includes deepwell gas cargo pumps, fuel and energy pumps, and tank control systems for low-emission and green fuels. The company holds a leadership position in ammonia, LPG, and LNG cargo and fuel pumps. With operations in Denmark, Singapore, and France, Svanehøj generated approximately $140 million in sales in 2022.
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ITT Inc. announces the election of Sharon Szafranski to its Board of Directors. Ms. Szafranski, currently serving as Executive Vice President of the Welding segment at Illinois Tool Works (ITW), brings over thirty years of manufacturing experience and extensive multi-industry and global business expertise. The appointment reflects ITT's commitment to Board refreshment and strategic focus. Ms. Szafranski's successful tenure at ITW and her experience with highly engineered products align with ITT's portfolio.
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ITT Inc. (NYSE: ITT) will release its Q4 and full year 2023 financial results and its 2024 outlook on Feb. 8, 2024. A conference call will be held at 8:30 a.m. Eastern Time to discuss the results and outlook. Participants can register online to join the call and access the webcast and related materials.
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ITT Inc. reported a 9% revenue growth in Q3 2023, driven by pump projects, aftermarket sales, aerospace and defense components, and Friction OE outperformance. The company also saw a 19.1% segment operating margin and a 19% increase in segment operating income. Year-to-date operating cash flow was $368 million, with free cash flow of $299 million. ITT raised its 2023 full year guidance across all metrics.
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ITT Inc. has announced its agreement to acquire Svanehøj Group A/S for approximately $395 million. Svanehøj will become part of ITT's Industrial Process segment and brings expertise in the marine pumps industry. The acquisition is expected to close in Q1 2024.
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ITT Inc. (NYSE: ITT) has declared a regular quarterly dividend payment of $0.290 per share on its outstanding common stock. The dividend is payable on Dec. 29, 2023, to shareholders of record as of Dec. 1, 2023.
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FAQ

What is the current stock price of Itt (ITT)?

The current stock price of Itt (ITT) is $133.44 as of April 2, 2025.

What is the market cap of Itt (ITT)?

The market cap of Itt (ITT) is approximately 11.0B.

What are ITT Inc's primary business segments?

ITT Inc operates through segments including Motion Technologies, Industrial Process, and Connect & Control Technologies, each providing specialized engineered products and solutions.

Which markets does ITT Inc serve?

The company serves diverse sectors such as industrial processes, transportation, energy, aerospace, and defense, addressing critical component needs across these markets.

How does ITT Inc generate its revenue?

Revenue is generated by manufacturing and servicing high-precision engineered components and technology solutions, with a strong emphasis on niche markets that require customized products.

What distinguishes ITT Inc from its competitors?

Its combination of advanced engineering, comprehensive product portfolios, and a global operational footprint allows ITT Inc to deliver reliable and innovative solutions in mission-critical applications.

Where is ITT Inc headquartered and how extensive is its global reach?

Headquartered in White Plains, New York, ITT Inc enjoys a broad international presence, servicing customers in over a hundred countries with its diversified product lines.

What role does technology play in ITT Inc's operations?

Advanced technology underpins every aspect of ITT Inc’s operations, from product design to manufacturing, ensuring that the solutions meet stringent quality and performance standards.

How does ITT Inc support its aerospace and defense customers?

Through strategic acquisitions and targeted investments in interconnect and connectivity solutions, ITT Inc offers mission-critical products that meet the high reliability requirements of aerospace and defense sectors.

What kind of expertise does ITT Inc bring to industrial applications?

The company leverages decades of engineering expertise to develop and manufacture critical components that ensure operational efficiency and safety in industrial applications.
Itt Inc

NYSE:ITT

ITT Rankings

ITT Stock Data

11.04B
80.79M
0.76%
94.51%
1.38%
Specialty Industrial Machinery
Pumps & Pumping Equipment
Link
United States
STAMFORD