Yahoo Finance Here's Why Illinois Tool Works (ITW) is a Strong Growth Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Why This 1 Growth Stock Should Be On Your Watchlist
Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Illinois Tool Works (ITW)
Headquartered in Glenview, IL, Illinois Tool Works Inc. is a worldwide manufacturer of highly engineered products and specialty systems. The company's diversified range of industrial products and equipment are sold in multiple countries. The company operates through seven operating business segments. A brief discussion is given below:
ITW sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 4.7% and 1.8% year-over-year, respectively.
Three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.12 to $10.24 per share for 2024. ITW boasts an average earnings surprise of 2.5%.
Illinois Tool Works is also cash rich. The company has generated cash flow growth of 2.2%, and is expected to report cash flow expansion of 3.3% in 2024.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ITW should be on investors' short lists.
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Illinois Tool Works Inc. (ITW) : Free Stock Analysis Report
