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Wednesday, July 28, 2021

Illinois Tool Works Inc. (ITW)’s Stock is Jumping, Here is Why

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Illinois Tool Works Inc. (ITW) shares are trading at higher $206.89 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $203.06.

To add more color to this target, the company’s high over the last year is $224.69 and the low is $115.94. Over the last 52 weeks, ITW is up 19.98% while the S&P 500 is up 15.13%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ITW reported a profit of $1.4 billion. Illinois Tool Works Inc. also saw revenues increase to $3.31 billion. In addition, ITW has free cash flow of $1.87 billion as of 09-2020. The company’s EBITDA came in at $907.0 million which compares well with its peers.

ITW booked profit margins of 16.80%, its Return on Equity (ROE) is 81.40%, and its Return on Assets is 14.40%. All told, it is clear that, ITW needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ITW has a short ratio of 4.76 and outstanding shares of 316.50M.

Company Outlook

ITW has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.11 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 6.59. Illinois Tool Works Inc. ITW also noted assets of $14.94 billion at the end of the last quarter. Investors should also keep an eye on sector updates as ITW has historically followed its peers on positive news.

All told, Illinois Tool Works Inc. ITW has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ITW represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Illinois Tool Works Inc. ITW is now commanding a market cap of 64.92B and a float of 315.78M. ITW is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ITW stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ITW, either long or short, and we have not been compensated for this article.

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