Illinois Tool Works (ITW) : Traders are bullish on Illinois Tool Works (ITW) as it has outperformed the S&P 500 by a wide margin of 5.8% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.7%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.75% in the last 1 week, and is up 6.9% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.23% and the 50-Day Moving Average is 8.5%. Illinois Tool Works (NYSE:ITW): stock turned positive on Friday. Though the stock opened at $118.85, the bulls momentum made the stock top out at $119.19 level for the day. The stock recorded a low of $118.31 and closed the trading day at $118.89, in the green by 0.01%. The total traded volume for the day was 866,276. The stock had closed at $118.88 in the previous days trading.
The company Insiders own 0.8% of Illinois Tool Works shares according to the proxy statements. Institutional Investors own 75.67% of Illinois Tool Works shares. During last six month period, the net percent change held by insiders has seen a change of -97.2%. Also, Major Brokerage house, UBS maintains its ratings on Illinois Tool Works (NYSE:ITW). In the latest research report, UBS raises the target price from $102 per share to $115 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on July 25, 2016.
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.