ITT Public Offering Priced at $167, Shares Pull Back to Support ITT Inc. (NYSE: NYSE:ITT ) has priced its newly announced public offering of 7 million shares at $167 each, with underwriters receiving a 30-day option to purchase an additional 1.05 million shares. The company expects $1.14 billion in net proceeds, which will primarily fund its planned $4.775B acquisition of SPX Flow, the largest deal in its history. If the SPX Flow transaction does not close, ITT will redirect excess capital toward general corporate purposes.
The offering follows a strong year for the company, with shares up nearly 20% YTD and financial metrics showing a resilient foundation. InvestingPro data highlights ITT’s solid liquidity, with liquid assets exceeding short-term obligations and a manageable debt profile. Analyst sentiment remains favorable: DA Davidson, KeyBanc, and Stifel all maintain Buy or Overweight ratings, with targets ranging from $215 to $225, underscoring expectations that the SPX Flow acquisition will expand ITT’s footprint in high-value engineered components and process solutions across the nutrition and health sectors.
Additional filings tied to the acquisition, including updated financial statements for LSF11 Redwood TopCo LLC, signal ITT’s continued commitment to regulatory transparency as it navigates closing requirements.
Technical Analysis
The chart shows ITT breaking below the steep ascending trendline after reaching highs near $197, followed by a strong corrective move. Price has now returned toward a major demand zone between $165–170, which previously acted as a breakout area. This region aligns with the offering price, creating a confluence of support.
Volume expanded during the sell-off, indicating institutional participation, while RSI continues drifting toward neutral levels—suggesting cooling momentum but not oversold conditions. If bulls defend the $165–170 zone, a rebound toward the $182 minor resistance is likely, with a broader upside target back toward $197. A breakdown below $165 would expose deeper support near $160.
Long
