New York, Feb 6, 2026, 10:30 EST — Regular session underway.
- ITT shares climbed in early trading, building on Thursday’s jump after earnings
- Company raised its dividend and announced profit and margin targets for the first quarter
- KeyBanc bumped up its price target amid growing investor interest in the upcoming SPX Flow deal
Shares of ITT Inc climbed 0.9% to $203.82 on Friday, following a strong rally the day before fueled by better-than-expected results and a positive Q1 forecast.
This shift is crucial as ITT gears up for what management calls a portfolio reset, driven by the planned acquisition of SPX Flow that will transform its Industrial Process segment. Investors are closely tracking if order growth can sustain itself amid uneven industrial demand and ongoing supply chain strains from major aerospace projects.
The stock ended Thursday at $202.05, rising 9.13%, on volume hitting roughly 2.8 million shares — over three times its usual daily average. 1
ITT reported a 13% jump in fourth-quarter revenue, reaching $1.054 billion, with adjusted earnings hitting $1.85 per share. The company projects first-quarter EPS between $1.67 and $1.71. It also raised its quarterly dividend by 10% to $0.386 per share, payable April 6 to shareholders of record as of March 6. CEO Luca Savi highlighted a $1.9 billion backlog and said the anticipated SPX Flow acquisition later in the first quarter will “accelerate” ITT’s pivot toward higher-growth, higher-margin segments. 2
The first-quarter margin forecast suggests roughly 100 basis points of adjusted expansion — a basis point equals one-hundredth of a percentage point — before factoring in the acquisition. ITT also warned of an upcoming tweak to its “adjusted” profit metric, set to exclude acquisition-related intangible amortization once SPX Flow closes. This change could complicate year-over-year comparisons for several quarters.
During the earnings call, management confirmed they still plan to close the SPX Flow deal in March and will update guidance to factor in the acquisition at the next call. CFO Emmanuel Caprais noted the first-quarter outlook continues to reflect dilution from the company’s December equity raise. The accounting adjustment related to intangible amortization is expected to kick in after the deal closes. 3
KeyBanc’s Jeffrey Hammond bumped ITT’s price target to $230 from $215 on Friday, maintaining an Overweight rating. He pointed to “consistent momentum across the portfolio,” highlighting the strength in the Connect & Control Technologies segment. 4
That unit markets engineered connectors and components to aerospace and defense supply chains, putting ITT in competition with bigger players like TE Connectivity and Amphenol. Its pump and flow business, meanwhile, aligns more with companies such as Flowserve, and the SPX Flow acquisition aims to strengthen that side of the portfolio.
But the next move hinges on execution, not just headlines. Any delay in the SPX Flow closing timeline, slower progress on major pump projects, or a weaker aerospace build could pressure near-term orders. That would complicate defending the margin bridge, particularly as integration efforts pick up pace.
