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STAMFORD, Conn. - ITT Inc. (NYSE: ITT), a global manufacturer of engineered components and technology solutions with a market capitalization of $11.8 billion and an "GREAT" financial health rating according to InvestingPro, announced the appointment of Mary Laschinger to its Board of Directors effective today. Laschinger’s extensive experience in industrial sectors and her leadership background are expected to contribute significantly to the company’s strategic direction. The appointment comes as 11 analysts have revised their earnings estimates upward for the upcoming period.
Mary Laschinger is known for her tenure as CEO and Chair of Veritiv Corporation (NYSE: VRTV), where she served from 2014 until her retirement in 2020. Prior to Veritiv, she held senior roles at International Paper Company, including Senior Vice President and President of various divisions. Laschinger’s career spans over two decades in the industry, with a focus on turning underperforming units into top performers. She joins ITT at a time when the company has demonstrated strong financial discipline, maintaining dividend payments for 55 consecutive years and raising them for the past 12 years.
In welcoming Laschinger to the board, ITT’s Chairman Timothy H. Powers highlighted her global experience and successful track record in markets similar to ITT’s. He emphasized that her appointment aligns with the company’s board refreshment strategy. Powers expressed confidence that Laschinger’s background as a public company CEO and director will be "tremendously additive" to ITT.
CEO and President of ITT, Luca Savi, also praised Laschinger as a "trailblazer" in the industry, noting her ability to drive sustainable results and her extensive global experience in complex manufacturing operations, product management, and mergers and acquisitions.
Laschinger currently serves on the boards of Kellanova and Dollar Tree Inc. and is a member of the Executive Advisory Council for Apollo Global Management. She holds a bachelor’s degree from the University of Wisconsin, an MBA from the University of Connecticut, and has completed postgraduate executive management studies at the Kellogg School of Management at Northwestern University.
ITT is headquartered in Stamford, Connecticut, and operates globally with a presence in more than 35 countries and sales in around 125 countries. The company focuses on providing solutions for the transportation, industrial, and energy markets. With a return on equity of 19% and operating with moderate debt levels, ITT has demonstrated robust financial performance. For deeper insights into ITT’s financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 30 additional key metrics and investment tips.
This announcement is based on a press release statement from ITT Inc.
In other recent news, ITT Corp. has been the focus of several analyst updates and strategic announcements. ITT recently held its Capital Markets Day, during which it outlined ambitious financial goals for 2030, emphasizing a blend of organic and inorganic growth strategies. Analysts from BofA Securities, TD Cowen, Stifel, Citi, and DA Davidson have all maintained Buy ratings on ITT, with price targets ranging from $159 to $171. BofA Securities raised its price target to $170, citing ITT’s focus on mergers and acquisitions and organic growth as key drivers. Similarly, TD Cowen increased its target to $170, highlighting ITT’s "2030 Vision" and strategic transition. Stifel also raised its target to $171, noting the company’s financial objectives and acquisition plans as significant value drivers. Citi maintained a $159 target, expressing confidence in ITT’s ability to achieve its growth targets. DA Davidson reiterated a $170 target, recognizing ITT as part of its Best-of-Breed Bison initiative, which identifies top-performing companies. These developments underscore ITT’s strategic efforts to enhance shareholder value through robust growth initiatives.
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