Illinois Tool Works (NYSE:ITW) has tumbled 1.71% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.01% in the last four weeks. The stocks have underperformed the S&P 500 by 0.53% during the past week but Illinois Tool Works (NYSE:ITW) it has outperformed the index in 4 weeks by 2.07%.
Illinois Tool Works (NYSE:ITW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $105.47 and $105.13 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $106.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $106.24, notching a gain of 0.88% for the day. The total traded volume was 2,115,160 . The stock had closed at $105.31 on the previous day.
The company shares have rallied 14.41% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $109.54 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $105.27 and the 200 Day Moving Average price is recorded at $97.52.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Parry David C, officer (Vice Chairman) of Illinois Tool Works Inc, had unloaded 10,000 shares at an average price of $104.35 in a transaction dated on May 16, 2016. The total value of the transaction was worth $1,043,500.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm JP Morgan maintains its rating on Illinois Tool Works (NYSE:ITW). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at JP Morgan raises the price target from $87 per share to $93 per share. The rating by the firm was issued on March 2, 2016. Currently the company Insiders own 0.8% of Illinois Tool Works shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -93.32% . Institutional Investors own 77.52% of Illinois Tool Works shares. During last six month period, the net percent change held by insiders has seen a change of -74.05%.
Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Companys operates in seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. These operations serve end markets as automotive original equipment manufacturers/tiers, automotive aftermarket, general industrial, commercial food equipment and construction. It produces components and fasteners for automotive-related applications; equipment, consumables and related software; commercial food equipment, adhesives, sealants, lubrication and cutting fluids; arc welding equipment, consumables and accessories; construction fastening systems and truss products, and beverage packaging equipment and consumables. The Company operates approximately 90 divisions in 57 countries.