ITT Inc. (ITT - Free Report) announced the acquisition of Clippard Instrument Laboratories’ product lines of durable, low maintenance and cost-competitive interchangeable pneumatic cylinders. The acquisition was completed in the second quarter of 2022.
With product lines of stainless steel, brass and aluminum cylinders and volume tanks, the acquisition expands ITT’s Compact Automation product offering in the robotics, packaging, and automation end markets.
The addition of Clippard’s pneumatic cylinders broadens ITT’s Compact offering with products designed for high-speed, high-cycle applications found in warehouse automation, textiles, and food and beverage industries. Combination of the two companies’ distribution network is expected to simplify the customer purchasing experience for ITT.
ITT will expand its Compact business’ operations in Westminster, SC, to house Clippard cylinder’s production assets.
Ryan Flynn, President of ITT Connect & Control Technologies, said, "Clippard’s interchangeable solutions are an exciting addition to Compact’s already vast product offering of small, powerful, and configurable components."
ITT has lately carried out a series of acquisitions to expand its operations. Its acquisition of CRP Technology and CRP USA (jointly CRP) in June 2022 helps the company gain additive manufacturing technology capabilities and strengthens its position in the material science space. The buyout of Habonim in April 2022 has boosted its offerings in cryogenic and hydrogen ball valve space.
Zacks Rank & Key Picks
ITT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Titan International, Inc. presently flaunts a Zacks Rank #1 (Strong Buy). Its earnings surprise in the last four quarters was 47%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Titan International has an estimated earnings growth rate of 157.7% for the current year. Shares of the company have rallied 39.1% in the past six months.
Greif, Inc. (GEF - Free Report) presently sports a Zacks Rank #1. GEF delivered a trailing four-quarter earnings surprise of 22.9%, on average.
Greif has an estimated earnings growth rate of 36.8% for the current year. Shares of the company have gained 24.3% in the past six months.
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ITT Inc. (ITT - Free Report) announced the acquisition of Clippard Instrument Laboratories’ product lines of durable, low maintenance and cost-competitive interchangeable pneumatic cylinders. The acquisition was completed in the second quarter of 2022.
With product lines of stainless steel, brass and aluminum cylinders and volume tanks, the acquisition expands ITT’s Compact Automation product offering in the robotics, packaging, and automation end markets.
The addition of Clippard’s pneumatic cylinders broadens ITT’s Compact offering with products designed for high-speed, high-cycle applications found in warehouse automation, textiles, and food and beverage industries. Combination of the two companies’ distribution network is expected to simplify the customer purchasing experience for ITT.
ITT will expand its Compact business’ operations in Westminster, SC, to house Clippard cylinder’s production assets.
Ryan Flynn, President of ITT Connect & Control Technologies, said, "Clippard’s interchangeable solutions are an exciting addition to Compact’s already vast product offering of small, powerful, and configurable components."
ITT has lately carried out a series of acquisitions to expand its operations. Its acquisition of CRP Technology and CRP USA (jointly CRP) in June 2022 helps the company gain additive manufacturing technology capabilities and strengthens its position in the material science space. The buyout of Habonim in April 2022 has boosted its offerings in cryogenic and hydrogen ball valve space.
Zacks Rank & Key Picks
ITT carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Titan International, Inc. presently flaunts a Zacks Rank #1 (Strong Buy). Its earnings surprise in the last four quarters was 47%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Titan International has an estimated earnings growth rate of 157.7% for the current year. Shares of the company have rallied 39.1% in the past six months.
Greif, Inc. (GEF - Free Report) presently sports a Zacks Rank #1. GEF delivered a trailing four-quarter earnings surprise of 22.9%, on average.
Greif has an estimated earnings growth rate of 36.8% for the current year. Shares of the company have gained 24.3% in the past six months.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
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