ITT Prices Public Offering of 7 Million Shares, Raising Approximately $1.14 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Source: Businesswire
Updated: 1 day ago0mins
- Large Financing Scale: ITT Inc. has priced its public offering of 7 million shares at $167 per share, raising approximately $1.14 billion, significantly enhancing the company's capital strength to support future acquisitions.
- Acquisition Funding Support: The proceeds from this offering will fund a portion of the acquisition of SPX FLOW, Inc., and if the acquisition does not proceed, the funds will be allocated for general corporate purposes, ensuring flexibility in diversifying business operations.
- Strong Underwriter Lineup: Goldman Sachs and UBS are acting as lead underwriters, with Barclays and several other prominent financial institutions involved, reflecting strong market confidence in ITT's financing plan, which may enhance the company's reputation among investors.
- Compliance Assurance: The offering is made pursuant to an automatic shelf registration statement filed with the SEC on November 1, 2024, ensuring compliance and providing transparent disclosures to investors, thereby enhancing market trust.
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Analyst Views on ITT
Wall Street analysts forecast ITT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ITT is 213.33 USD with a low forecast of 190.00 USD and a high forecast of 225.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
7 Buy
1 Hold
0 Sell
Strong Buy
Current: 170.500
Low
190.00
Averages
213.33
High
225.00
Current: 170.500
Low
190.00
Averages
213.33
High
225.00
Citi
Vladimir Bystricky
maintain
$207 -> $225
2025-10-30
Reason
Citi
Vladimir Bystricky
Price Target
$207 -> $225
2025-10-30
maintain
Reason
Citi analyst Vladimir Bystricky raised the firm's price target on ITT to $225 from $207 and keeps a Buy rating on the shares.
BofA
Andrew Obin
Buy
maintain
$210 -> $225
2025-10-29
Reason
BofA
Andrew Obin
Price Target
$210 -> $225
2025-10-29
maintain
Buy
Reason
BofA analyst Andrew Obin raised the firm's price target on ITT to $225 from $210 and keeps a Buy rating on the shares after a "strong beat and raise" report for Q3. Following the report, the firm raised its FY26 EPS estimate to $7.53 from $7.47 and raised its multiple to be a premium to peers, arguing this is warranted given above-peer EPS growth and continued positive earnings revisions that the firm expects given strong execution coupled with continued M&A.
Stifel
Nathan Jones
maintain
$202 -> $203
2025-10-20
Reason
Stifel
Nathan Jones
Price Target
$202 -> $203
2025-10-20
maintain
Reason
Stifel analyst Nathan Jones raised the firm's price target on ITT to $203 from $202 and keeps a Buy rating on the shares. After significant uncertainty in the global macro economy post April 2, the biggest adjustment the firm has seen for its industrial companies is an increase in pricing, which has been almost exclusively passed through to customers with little resistance, says the analyst, who thinks on average that tariffs have so far been slightly accretive to EPS among the firm's diversified industrials coverage.
BofA
Buy
maintain
$190 -> $210
2025-09-16
Reason
BofA
Price Target
$190 -> $210
2025-09-16
maintain
Buy
Reason
BofA raised the firm's price target on ITT to $210 from $190 and keeps a Buy rating on the shares after having hosted an investor meeting with the company's CEO and VP of IR. ITT remains confident in growth, with A&D, autos, and O&G having the most visibility, and the company has multiple levers for margin expansion despite the uncertain macro backdrop, the analyst contends after the meetings with management.
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About ITT
ITT Inc. is a diversified manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial and energy markets. Its segments include Motion Technologies (MT), Industrial Process (IP), and Connect & Control Technologies (CCT). MT is a global manufacturer of highly engineered brake pads, shock absorbers and damping technologies for the automotive and rail markets. IP is a global manufacturer of industrial pumps, valves, and monitoring and control systems, and provides aftermarket services for the energy, chemical and petrochemical, pharmaceutical, general industrial, marine, mining, pulp and paper, food and beverage, power generation and biopharmaceutical markets. CCT is a global designer and manufacturer of harsh-environment interconnect solutions and critical energy absorption and flow control components, primarily for the aerospace, defense and industrial markets. Its brands include Axtone, Novitek, Goulds Pumps and Cannon.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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