ITT Inc. is a global company that specializes in the manufacture of critical and engineered components and technology solutions. The company serves high-growth markets in transportation, industrial processes, energy, aerospace and defense. ITT operates in three major segments: Industrial Process, Motion Technologies and Connect and Control Technologies. It raised its dividend this year and the price per share is at new highs. Let's take a look at what's behind the company's success.

ITT Inc, originally known as International Telephone & Telegraph, has a rich history that dates back more than a century. The company was founded in 1920 by brothers Sosthenes and Hernando Behn with the goal of building the first worldwide system of interconnected telephone lines. It began as the Puerto Rico Telephone Company, but grew rapidly through strategic acquisitions and the purchase of patents in telecommunications.

Over the course of 1960 to 1977, ITT expanded into various industries and acquired…