ITT to Acquire Aerospace Contacts LLC, Expanding High-Reliability Offerings
ITT sits 31% above its 52-week low of $149.02.
Summary
ITT Inc. announced an agreement to acquire Aerospace Contacts LLC, a leading provider of specialized, high-reliability contacts. This strategic move expands ITT's product portfolio and strengthens its presence in the aerospace sector. The acquisition aligns with the company's recent M&A activity, following the SPX FLOW acquisition detailed in an 8-K/A filing on May 5th.
At the time of this announcement, ITT was trading at $195.18 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $17.4B. The 52-week trading range was $149.02 to $225.26. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.