ITT buys SPX Flow in a $4.8 billion deal; shares fall

Shares of industrial parts supplier ITT ITT.N fall nearly 3.5% to about $177 in morning trading

Co to buy pump-maker SPX Flow from private equity firm Lone Star Funds in a cash-and-equity deal valued at $4.78 billion

ITT will issue $700 million in common stock to Lone Star and fund the cash portion via debt and equity

Deal expected to close by the first quarter of 2026

Ten of 14 brokerages rate the stock "buy" or higher and four "hold"; their median PT is $215 - data compiled by LSEG

Including session's moves, shares up 23.9% YTD