ITT Inc.
ITT Inc., formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy and industrial markets. ITT's three businesses include Industrial Process, Motion Technologies, and Connect and Control Technologies.
| Formerly | ITT Corporation |
|---|---|
| Company type | Public |
Traded as | NYSE: ITT S&P 400 Component |
| Industry | Industrial manufacturer (historically a conglomerate) |
| Founded | 1920 |
| Founder | Sosthenes Behn |
| Headquarters | Stamford, Connecticut, United States |
Area served | Worldwide |
Key people | Luca Savi (CEO and President) |
| Products | Specialty components for the aerospace, transportation, energy and industrial markets |
| Revenue | US$2.988 billion (2022) |
| US$468.0 million (2022) | |
Net income | US$367.0 million (2022) |
| Total assets | US$1.8368 billion (2022) |
| Total equity | US$2.248 billion (2022) |
Number of employees | >10,000 (2022) |
| Divisions | ITT Interconnect Solutions |
| Website | www.ITT.com |
ITT has over 10,000 employees in more than 35 countries and serves customers in well over 100 countries. The company's long-standing brands include Goulds Pumps, Cannon connectors, KONI shock absorbers and Enidine energy absorption components.
The company was founded in 1920 as International Telephone & Telegraph. During the 1960s and 1970s, under the leadership of CEO Harold Geneen, the company rose to prominence as the archetypal conglomerate, deriving its growth from hundreds of acquisitions in diversified industries.
ITT divested its telecommunications assets in 1986. In 1995, the company sold off its hospitality portfolio, including Sheraton Hotels and Resorts. In 1996, the current company was founded as a spinoff of ITT as ITT Industries, Inc. It later changed its name to ITT Corporation in 2006.
In 2011, ITT spun off its defense businesses into a company named Exelis (now part of L3Harris Technologies), and its water technology business into a company named Xylem Inc. ITT Corporation changed its name to ITT Inc. in 2016.