ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin its modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries.
Company profile
Ticker
ITT
Exchange
Website
CEO
Luca Savi
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
ITT CORP, ITT Corp, ITT INDUSTRIES INC
SEC CIK
Corporate docs
Subsidiaries
AcousticFab, LLC • Axtone Bahntechink GmbH • Axtone GmbH • Axtone S.A. • Axtone s.r.o. • Bolton Insurance Co. • Bolton International • Bombas Goulds de Mexico • Bombas Goulds S.A. • Bornemann Inc. ...
IRS number
135158950
ITT stock data
Press releases
ITT Hosts 2022 Investor Conference; Announces Long-Term Financial Outlook
16 Jun 22
ITT Acquires Additive Manufacturing Technology Capabilities with Investment in CRP
14 Jun 22
ITT to Present at the UBS Global Industrials and Transportation Conference 2022 on June 7
24 May 22
ITT Announces Quarterly Dividend of $0.264 Per Share
18 May 22
ITT to Present at the Goldman Sachs Industrials and Materials Conference on May 10th
4 May 22
Analyst ratings and price targets
Current price
Average target
$95.33
Low target
$91.00
High target
$100.00
DA Davidson
Maintains
$100.00
Cowen & Co.
Maintains
$92.00
Keybanc
Maintains
$100.00
Stifel
Maintains
$91.00
UBS
Upgraded
$95.00
Goldman Sachs
Maintains
$94.00
Calendar
3 May 22
26 Jun 22
31 Dec 22
Financial summary
| Quarter (USD) | Apr 22 | Dec 21 | Oct 21 | Jul 21 | |
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| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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| Revenue | |||||
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 711.2M | 711.2M | 711.2M | 711.2M | 711.2M | 711.2M |
| Cash burn (monthly) | (no burn) | 5.82M | (no burn) | (no burn) | 933.33K | 6.76M |
| Cash used (since last report) | n/a | 16.33M | n/a | n/a | 2.62M | 18.97M |
| Cash remaining | n/a | 694.87M | n/a | n/a | 708.58M | 692.23M |
| Runway (months of cash) | n/a | 119.5 | n/a | n/a | 759.2 | 102.4 |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 23 May 22 | Emmanuel Caprais | Common Stock | Payment of exercise | Dispose F | No | No | 69.61 | 104 | 7.24K | 16,590 |
| 19 May 22 | Powers Timothy H | Common Stock | Buy | Acquire P | No | No | 69.4782 | 6,000 | 416.87K | 23,391 |
| 18 May 22 | Darnis Geraud | Common Stock | Grant | Acquire A | No | No | 0 | 1,999 | 0 | 26,474 |
| 18 May 22 | Defosset Don | Common Stock | Grant | Acquire A | No | No | 0 | 1,999 | 0 | 28,986 |
| 18 May 22 | Fanandakis Nicholas C | Common Stock | Grant | Acquire A | No | No | 0 | 1,999 | 0 | 13,837 |
Institutional ownership, Q1 2022
0.0% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 1 |
| Opened positions | 0 |
| Closed positions | 0 |
| Increased positions | 0 |
| Reduced positions | 0 |
| 13F shares | Current |
|---|---|
| Total value | 0 |
| Total shares | 1 |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Huntington National Bank | 1 | $0 |
Financial report summary
?Competition
Dover • Circor International • Alion Science & Technology • Dyncorp International • Strongbridge BiopharmaRisks
- Our operating results and our ability to maintain liquidity or procure capital have been, and may continue to be, adversely affected by unfavorable or uncertain global economic and capital market conditions.
- Our business has been, and may continue to be, adversely affected by raw material price volatility and the inability of suppliers to meet quality and delivery requirements.
- Failure to innovate, protect our intellectual property rights, provide high-quality products, or respond to competitors could adversely impact our business and financial results.
- Our industry is experiencing a skilled labor shortage and if we are unable to hire and retain key personnel, including senior management and engineering talent, our ability to operate or grow our business could be negatively impacted.
- Due to our operations and sales outside of the U.S., we are subject to inherent business risks, including the imposition of tariffs and significant movements in foreign currency exchange rates, which may adversely affect our financial results.
- New or recent mergers or acquisitions could present operational challenges and past divestitures and spin-offs may expose us to potential liabilities, all of which could adversely affect our results of operations and financial position.
- We are subject to risks related to government contracting, including changes in levels of government spending and regulatory and contractual requirements applicable to sales to the U.S. government.
- Changes in our effective tax rates as a result of changes in the realizability of our deferred tax assets, the geographic mix of earnings, tax examinations or disputes, tax authority rulings, or changes in the tax laws, may adversely affect our financial results.
- Changes in environmental laws or regulations, the discovery of previously unknown or more extensive contamination, or the failure of a potentially responsible party to perform may adversely affect our financial results.
- Failure to comply with the U.S. Foreign Corrupt Practices Act or other applicable anti-corruption legislation, as well as export controls and trade sanctions, could result in fines or criminal penalties.
- We are subject to laws, regulations and potential claims relating to product liability.
- Anti-takeover provisions in our organizational documents and Indiana law could delay or prevent a change in control.
Content analysis
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| Litigous | ||
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H.S. freshman Avg
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New words:
absenteeism, acquired, acquiror, actuation, ASC, auto, automation, biotech, broader, China, comprised, conflict, coupled, curtail, diligence, directly, equally, escalation, February, flat, geopolitical, Habonim, harsh, imposed, inflationary, input, instability, invasion, Israel, liquified, macroeconomic, Omicron, overhead, passenger, physical, proof, region, regional, reinstituting, Russia, Russian, space, suspended, suspending, swab, Ukraine, valve, workplace, worsen
Removed:
accelerate, actuarial, administering, administration, alternative, American, annuity, approach, ARPA, assumed, Axtone, backed, Biden, building, buyout, capacity, categorized, challenging, combined, commenced, cut, deemed, discretionary, ease, elevated, eligible, essential, estimating, Euro, evaluate, executed, expired, Facilitation, finalized, full, fully, funded, gain, governmental, group, half, health, hedge, Hong, horizon, improved, improvement, incremental, individually, initiated, insurer, interbank, involuntary, January, Kong, KONI, likelihood, loan, London, lump, machinery, maintain, MassMutual, meaningful, measurement, mitigated, modified, OE, offered, optional, outbreak, outperformance, paying, payroll, pension, percentage, periodic, personnel, portion, President, projection, proprietary, prospectively, provision, recoverable, remaining, renew, Rescue, reserve, responsibility, retention, revolver, rolling, separately, settle, settled, substantially, sum, terminated, termination, top, trademark, transferring, trillion, unable, upstream, violate, work, Xylem
Financial reports
Current reports
8-K
Submission of Matters to a Vote of Security Holders
19 May 22
8-K
Results of Operations and Financial Condition
3 May 22
8-K
Results of Operations and Financial Condition
9 Feb 22
8-K
Departure of Directors or Certain Officers
9 Nov 21
8-K
Results of Operations and Financial Condition
3 Nov 21
8-K
Results of Operations and Financial Condition
5 Aug 21
8-K
ITT Announces Sale of Subsidiary Holding Legacy Liabilities to
1 Jul 21
8-K
Submission of Matters to a Vote of Security Holders
19 May 21
8-K
Results of Operations and Financial Condition
7 May 21
8-K
Departure of Directors or Certain Officers
15 Apr 21
Registration and prospectus
S-3ASR
Automatic shelf registration
4 Nov 21
S-3ASR
Automatic shelf registration
17 Sep 18
8-K12B
Notification of registration of securities
15 May 16
POSASR
Automatic shelf registration (post-effective amendment)
15 May 16
S-8 POS
Registration of securities for employees (post-effective amendment)
15 May 16
S-8 POS
Registration of securities for employees (post-effective amendment)
15 May 16
S-8 POS
Registration of securities for employees (post-effective amendment)
15 May 16
S-8 POS
Registration of securities for employees (post-effective amendment)
16 Dec 15
S-8 POS
Registration of securities for employees (post-effective amendment)
16 Dec 15
S-8 POS
Registration of securities for employees (post-effective amendment)
16 Dec 15
Proxies
DEFA14A
Additional proxy soliciting materials
5 Apr 22
DEFA14A
Additional proxy soliciting materials
15 Apr 21
DEFA14A
Additional proxy soliciting materials
5 Apr 21
DEFA14A
Additional proxy soliciting materials
1 May 20
DEFA14A
Additional proxy soliciting materials
1 Apr 20
DEFA14A
Additional proxy soliciting materials
31 Mar 20
DEF 14A
Definitive proxy
31 Mar 20
DEFA14A
Additional proxy soliciting materials
8 Apr 19
Other
SD
Conflict minerals disclosure
26 May 22
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
3 May 22
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
16 Feb 22
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
4 Nov 21
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
6 Aug 21
UPLOAD
Letter from SEC
11 Jul 21
CORRESP
Correspondence with SEC
8 Jul 21
UPLOAD
Letter from SEC
23 Jun 21
SD
Conflict minerals disclosure
28 May 21
IRAN
Disclosure regarding Iran Threat Reduction and Syria Human Rights Act
7 May 21
Ownership
11-K
Annual report of employee stock purchases
24 Jun 22
4
ITT / TIMOTHY H POWERS ownership change
26 May 22
4
ITT / Emmanuel Caprais ownership change
25 May 22
4
ITT / CHERYL L SHAVERS ownership change
19 May 22
4
ITT / TIMOTHY H POWERS ownership change
19 May 22
4
ITT / REBECCA ANN MCDONALD ownership change
19 May 22
4
ITT / RICHARD P LAVIN ownership change
19 May 22
4
ITT / NICHOLAS C FANANDAKIS ownership change
19 May 22
4
ITT / DON DEFOSSET ownership change
19 May 22
4
ITT / GERAUD DARNIS ownership change
19 May 22
Patents
Utility
Coatings for Brake Discs, Method for Reducing Wear and Corrosion and Associated Brake Disc
23 Jun 22
Brake pads are prepared using a formulation of friction material of the copper-free type (Low-Steel or Organic Non-Asbestos) and at least one friction surface of a brake disc, which is intended to cooperate with the brake pad, is covered with an anti-wear and anti-corrosion coating consisting of a surface layer of chromium carbide particles (Cr3C2) dispersed in a metallic matrix consisting of a NiCr alloy, and coupled to a second layer consisting of selected combinations of metallic materials, chosen from the group consisting of: Cr3C2-high density NiCr, NiAl alloys, FeNiCrMoSiC alloys, metallic nickel, NiCr alloys, and/or any combination of the above.
Utility
Coatings for Brake Discs, Method for Reducing Wear and Associated Brake Disc
23 Jun 22
Brake pads are prepared using a LS (Low Steel) or NAO (Non-Asbestos Organics) type friction material formulation and at least one friction surface of a brake disc intended to cooperate in use with a brake pad that is coated with an anti-wear and anti-corrosion coating with adequate plasticity in order to have a reduced propensity to form micro-cracks under conditions of tribo-mechanical stress, chosen from the amongst the group consisting in: particles of chromium carbide (Cr3C2) dispersed within a metallic matrix consisting of an alloy of NiCr; particles of a combination of several metallic materials in order to create a metallic compound consisting of an alloy of FeNiCrMoSiC (iron-nickel-chromium-molybdenum-silicon-carbon).
Utility
Stackable, Configurable Monitoring System for Shock Absorbers
26 May 22
Technologies are generally described for stackable, configurable monitoring systems for shock absorbers or dampers.
Utility
Bearing housing filler plate
24 May 22
An apparatus is provided for providing access to one or more axial proximity probes for monitoring axial position of thrust collars of a pump shaft to enable improved adjustment of the axial proximity probes by the pump operator.
Utility
“Smart” sensor data analytics for equipment diagnosis
10 May 22
A system for performing sensor data analytics for equipment diagnostics featuring an alarm signature and diagnostic detector having a signal processor configured to receive signaling containing information about an alarm signature for sensed data that is time-stamped for captured alarm signature parameters in order to monitor rotary equipment, and also about diagnostic detector signatures for diagnostic detectors related to alarm conditions for the rotary equipment; and determine corresponding signaling containing information about an alarm diagnosis based upon a match between the alarm signature and one of the diagnostic detector signatures contained in the signaling received.
Transcripts
2022 Q1
Earnings call transcript
3 May 22
2021 Q4
Earnings call transcript
10 Feb 22
2021 Q3
Earnings call transcript
6 Nov 21
2021 Q2
Earnings call transcript
6 Aug 21
2021 Q1
Earnings call transcript
7 May 21
2020 Q4
Earnings call transcript
20 Feb 21
2020 Q3
Earnings call transcript
31 Oct 20
2020 Q2
Earnings call transcript
31 Jul 20
2020 Q1
Earnings call transcript
1 May 20
2019 Q4
Earnings call transcript
21 Feb 20