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ITT
-4.02%
Machinery & equipment / Highly engineered components and solutions
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ITT Inc. is a global diversified industrial company engaged in the design, manufacture, and sale of a wide range of engineered products and solutions. The company was founded in 1920 as International Telephone & Telegraph and has since evolved through various mergers, acquisitions, and divestitures to become a leading provider of highly engineered products and services to a variety of industries.
Headquartered in White Plains, New York, ITT operates in four segments: Industrial Process, Motion Technologies, Connect and Control Technologies, and Defense and Information Solutions. The company's products and services are used in a variety of industries, including oil and gas, aerospace, industrial and automotive, defense, and more.
ITT has a presence in over 125 countries and employs approximately 10,000 people worldwide. The company has a strong commitment to sustainability and corporate responsibility, focusing on energy efficiency, environmental stewardship, and social impact.
ITT is publicly traded on the New York Stock Exchange under the ticker symbol ITT and is included in the S&P 500 index.
Headquartered in White Plains, New York, ITT operates in four segments: Industrial Process, Motion Technologies, Connect and Control Technologies, and Defense and Information Solutions. The company's products and services are used in a variety of industries, including oil and gas, aerospace, industrial and automotive, defense, and more.
ITT has a presence in over 125 countries and employs approximately 10,000 people worldwide. The company has a strong commitment to sustainability and corporate responsibility, focusing on energy efficiency, environmental stewardship, and social impact.
ITT is publicly traded on the New York Stock Exchange under the ticker symbol ITT and is included in the S&P 500 index.
What is special about the company?
ITT Inc. is a global technology and manufacturing company that specializes in engineering and producing highly engineered products and services for various industries including defense, aerospace, industrial, chemical, and transportation. Here are some of the things that make ITT a unique and special company:
1. History: ITT has a long and rich history dating back to its founding in 1920, where it was one of the original companies listed on the New York Stock Exchange. Over the years, ITT has grown and evolved through various historic events, such as the acquisition of the Federal Laboratories in 1955, the launch of the first commercial communications satellite in 1965, and the development of its famous Mail-A-Voice system in the 1970s.
2. Diverse portfolio: ITT has a diverse portfolio of products and services, ranging from advanced engineering and manufacturing capabilities to high-tech solutions for global customers. Its wide range of products includes pumps, valves, connectors, switches, actuators, and more. This diverse portfolio allows ITT to serve a variety of industries and customers, making it a more resilient and stable company.
3. Strong focus on innovation: ITT is dedicated to continuous innovation and spends a significant amount of resources on research and development (R&D). This has resulted in numerous patents and breakthrough technologies, such as the Magnetek variable frequency drive, which has revolutionized the way energy is used in the oil and gas industry.
4. Commitment to sustainability: ITT is committed to minimizing its environmental impact and promoting sustainable practices. The company has set ambitious sustainability goals, including reducing its carbon footprint and water usage, and has implemented sustainability programs throughout its operations.
5. Global presence: With operations in over 35 countries, ITT has a strong global presence and is well positioned to serve international markets. This global footprint allows the company to tap into a diverse pool of talent, resources, and markets, making it a more competitive and versatile company.
6. Strong corporate culture: ITT has a strong corporate culture focused on diversity, integrity, and excellence. The company values its employees and strives to create a positive and inclusive work environment where everyone can reach their full potential.
7. Commitment to social responsibility: ITT is committed to being a responsible corporate citizen and supports various social and community initiatives. The company has a philanthropic arm, the ITT Foundation, which supports education, health, and environmental causes in the communities where it operates.
Overall, ITT's unique combination of a long history, diverse product portfolio, focus on innovation and sustainability, global presence, strong corporate culture, and social responsibility sets it apart from other companies in the industry and makes it a special organization.
1. History: ITT has a long and rich history dating back to its founding in 1920, where it was one of the original companies listed on the New York Stock Exchange. Over the years, ITT has grown and evolved through various historic events, such as the acquisition of the Federal Laboratories in 1955, the launch of the first commercial communications satellite in 1965, and the development of its famous Mail-A-Voice system in the 1970s.
2. Diverse portfolio: ITT has a diverse portfolio of products and services, ranging from advanced engineering and manufacturing capabilities to high-tech solutions for global customers. Its wide range of products includes pumps, valves, connectors, switches, actuators, and more. This diverse portfolio allows ITT to serve a variety of industries and customers, making it a more resilient and stable company.
3. Strong focus on innovation: ITT is dedicated to continuous innovation and spends a significant amount of resources on research and development (R&D). This has resulted in numerous patents and breakthrough technologies, such as the Magnetek variable frequency drive, which has revolutionized the way energy is used in the oil and gas industry.
4. Commitment to sustainability: ITT is committed to minimizing its environmental impact and promoting sustainable practices. The company has set ambitious sustainability goals, including reducing its carbon footprint and water usage, and has implemented sustainability programs throughout its operations.
5. Global presence: With operations in over 35 countries, ITT has a strong global presence and is well positioned to serve international markets. This global footprint allows the company to tap into a diverse pool of talent, resources, and markets, making it a more competitive and versatile company.
6. Strong corporate culture: ITT has a strong corporate culture focused on diversity, integrity, and excellence. The company values its employees and strives to create a positive and inclusive work environment where everyone can reach their full potential.
7. Commitment to social responsibility: ITT is committed to being a responsible corporate citizen and supports various social and community initiatives. The company has a philanthropic arm, the ITT Foundation, which supports education, health, and environmental causes in the communities where it operates.
Overall, ITT's unique combination of a long history, diverse product portfolio, focus on innovation and sustainability, global presence, strong corporate culture, and social responsibility sets it apart from other companies in the industry and makes it a special organization.
What the company's business model?
The ITT company has a diversified business model that focuses on four main areas:
1. Industrial Process: This segment focuses on designing and manufacturing highly engineered fluid handling solutions, including pumps, valves, and control systems, for various industrial applications such as chemical, oil and gas, and water treatment.
2. Motion Technologies: This segment designs and manufactures highly engineered motion control components and systems for aerospace, automotive, and other industrial markets.
3. Connect and Control Technologies: This segment provides connectors, aerospace controls, and sensors, as well as actuation systems for the global aerospace industry.
4. Resources and Defense: This segment provides advanced technology solutions and services to support the U.S. defense, intelligence, and federal civilian agencies, as well as various international customers.
Overall, the ITT company's business model involves designing and manufacturing highly specialized products and systems for various industries and collaborating with government and commercial customers to provide innovative solutions. They also have a focus on continuous improvement and leveraging technology to drive growth and increase efficiency.
1. Industrial Process: This segment focuses on designing and manufacturing highly engineered fluid handling solutions, including pumps, valves, and control systems, for various industrial applications such as chemical, oil and gas, and water treatment.
2. Motion Technologies: This segment designs and manufactures highly engineered motion control components and systems for aerospace, automotive, and other industrial markets.
3. Connect and Control Technologies: This segment provides connectors, aerospace controls, and sensors, as well as actuation systems for the global aerospace industry.
4. Resources and Defense: This segment provides advanced technology solutions and services to support the U.S. defense, intelligence, and federal civilian agencies, as well as various international customers.
Overall, the ITT company's business model involves designing and manufacturing highly specialized products and systems for various industries and collaborating with government and commercial customers to provide innovative solutions. They also have a focus on continuous improvement and leveraging technology to drive growth and increase efficiency.
Interesting facts about the company
1. ITT Corporation was founded in 1920 by brothers Sosthenes and Hernan Behn.
2. The company originally stood for International Telephone & Telegraph, as it began as a telecommunications company.
3. In 1927, ITT became the first company to provide transatlantic telephone service, connecting New York and London.
4. During World War II, ITT provided vital communications equipment to the U.S. military.
5. In the 1960s and 1970s, ITT diversified into multiple industries including insurance, finance, and consumer products.
6. In 1964, ITT acquired the Avis car rental company.
7. In 1979, ITT was the target of a hostile takeover bid by Harold Geneen, the company’s former CEO.
8. ITT was a major supplier of technology to the U.S. government during the Cold War, including providing secure communications equipment to the White House.
9. In 1984, ITT divested its many unrelated businesses and refocused on its core businesses of telecommunications and technology.
10. In 1995, ITT spun off its telecommunications division, creating ITT Industries.
11. In 2011, ITT split into three separate publicly traded companies: Xylem, a water technology company; ITT Exelis, a defense and aerospace company; and ITT Corporation, which focused on industrial products and services.
12. In 2016, ITT Corporation changed its name back to ITT Inc.
13. Today, ITT Inc. focuses on providing technology and engineering solutions in a variety of industries, including aerospace and transportation, defense, and oil and gas.
14. The company has a strong global presence, with operations in over 35 countries.
15. In 2019, ITT Inc. was named one of the World’s Most Ethical Companies by the Ethisphere Institute for the ninth consecutive year.
See Company Due Diligence:
2. The company originally stood for International Telephone & Telegraph, as it began as a telecommunications company.
3. In 1927, ITT became the first company to provide transatlantic telephone service, connecting New York and London.
4. During World War II, ITT provided vital communications equipment to the U.S. military.
5. In the 1960s and 1970s, ITT diversified into multiple industries including insurance, finance, and consumer products.
6. In 1964, ITT acquired the Avis car rental company.
7. In 1979, ITT was the target of a hostile takeover bid by Harold Geneen, the company’s former CEO.
8. ITT was a major supplier of technology to the U.S. government during the Cold War, including providing secure communications equipment to the White House.
9. In 1984, ITT divested its many unrelated businesses and refocused on its core businesses of telecommunications and technology.
10. In 1995, ITT spun off its telecommunications division, creating ITT Industries.
11. In 2011, ITT split into three separate publicly traded companies: Xylem, a water technology company; ITT Exelis, a defense and aerospace company; and ITT Corporation, which focused on industrial products and services.
12. In 2016, ITT Corporation changed its name back to ITT Inc.
13. Today, ITT Inc. focuses on providing technology and engineering solutions in a variety of industries, including aerospace and transportation, defense, and oil and gas.
14. The company has a strong global presence, with operations in over 35 countries.
15. In 2019, ITT Inc. was named one of the World’s Most Ethical Companies by the Ethisphere Institute for the ninth consecutive year.
See Company Due Diligence:
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