ITW Stock Summary and Trading Ideas (Illinois Tool Works | NYSE:ITW)

Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 84 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. Europe, the Middle East, and Africa is the next largest contributor at about 25% of revenue. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle.

Illinois Tool Works trades on the NYSE stock market under the symbol ITW.

As of May 3, 2024, ITW stock price climbed to $243.92 with 869,815 million shares trading.

ITW has a beta of 0.95, meaning it tends to be less sensitive to market movements. ITW has a correlation of 0.45 to the broad based SPY ETF.

ITW has a market cap of $72.88 billion. This is considered a Large Cap stock.

Last quarter Illinois Tool Works reported $4 billion in Revenue and $2.44 earnings per share. This fell short of revenue expectation by $-57 million and exceeded earnings estimates by $.08.

In the last 3 years, ITW stock traded as high as $271.15 and as low as $173.52.

The top ETF exchange traded funds that ITW belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.

ITW has underperformed the market in the last year with a price return of +7.4% while the SPY ETF gained +27.0%. ITW has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -4.2% and -2.6%, respectively, while the SPY returned +3.7% and +3.3%, respectively.

ITW support price is $239.46 and resistance is $244.63 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ITW stock will trade within this expected range on the day.