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Oct 27, 2019

Illinois Tool Works ( ITW, $171.81) tops Q3 earnings expectations; affirms full-year guidance

 Illinois Tool Works beat analysts’ expectations on its third-quarter earnings, while re-iterating its full year outlook. Quarterly revenue, however, missed estimates.

The industrial component & equipment maker’s  earnings came in at $2.04 a share for Q3, surpassing analysts’ estimate of $1.94 a share. The EPS was also higher than the year-ago quarter’s  $1.90.

The company’s revenue fell - 3.7% year—over-year to $3.48 billion in the quarter, compared to analysts’ expectation of $3.54 billion (based on FactSet data).

Its operating margin expanded +0.4 percentage point to 25%.

For the full-year 2019, Illinois Tool Works maintained its GAAP EPS guidance of $7.55 to $7.85 a share range, compared to analysts’ forecast of  $7.58.

Related Ticker: ITW

ITW in upward trend: price rose above 50-day moving average on February 21, 2024

ITW moved above its 50-day moving average on February 21, 2024 date and that indicates a change from a downward trend to an upward trend. In of 53 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on February 20, 2024. You may want to consider a long position or call options on ITW as a result. In of 95 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for ITW just turned positive on February 22, 2024. Looking at past instances where ITW's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .

The 10-day moving average for ITW crossed bullishly above the 50-day moving average on February 28, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ITW advanced for three days, in of 357 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for ITW moved out of overbought territory on January 31, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ITW declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

ITW broke above its upper Bollinger Band on February 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 72, placing this stock better than average.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. ITW’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: ITW's P/B Ratio (25.974) is slightly higher than the industry average of (4.846). P/E Ratio (26.915) is within average values for comparable stocks, (47.041). Projected Growth (PEG Ratio) (2.758) is also within normal values, averaging (2.180). Dividend Yield (0.021) settles around the average of (0.022) among similar stocks. P/S Ratio (4.941) is also within normal values, averaging (11.177).

Notable companies

The most notable companies in this group are General Electric Company (NYSE:GE), Illinois Tool Works (NYSE:ITW), Ingersoll Rand (NYSE:IR), Generac Holdings (NYSE:GNRC).

Industry description

The industry makes and maintains machines for consumers, the industry, and most other companies. While it has traditionally been categorized as heavy industry, some smaller companies are also branching into the light category. The industry is pivotal in providing the equipment for production in businesses like agriculture, mining, industry and construction, gas, electricity and water utilities. It also supplies supporting equipment for almost all sectors of the economy, such as equipment for heating, and air conditioning of buildings. Illinois Tool Works Inc., Parker-Hannifin Corporation and Rockwell Automation Inc are some of the major U.S. companies operating in this industry.

Market Cap

The average market capitalization across the Industrial Machinery Industry is 8.55B. The market cap for tickers in the group ranges from 1.55K to 170.75B. GE holds the highest valuation in this group at 170.75B. The lowest valued company is XEBEF at 1.55K.

High and low price notable news

The average weekly price growth across all stocks in the Industrial Machinery Industry was 3%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 1%. QUTIF experienced the highest price growth at 567%, while XMTR experienced the biggest fall at -34%.

Volume

The average weekly volume growth across all stocks in the Industrial Machinery Industry was 39%. For the same stocks of the Industry, the average monthly volume growth was 60% and the average quarterly volume growth was 99%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 58
P/E Growth Rating: 64
Price Growth Rating: 49
SMR Rating: 65
Profit Risk Rating: 71
Seasonality Score: -3 (-100 ... +100)
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a manufacturer of diversified range of industrial products and equipments

Industry IndustrialMachinery

Profile
Fundamentals
Details
Industry
Industrial Machinery
Address
155 Harlem Avenue
Phone
+1 847 724-7500
Employees
45000
Web
https://www.itw.com
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ITW and

Correlation & Price change

A.I.dvisor indicates that over the last year, ITW has been closely correlated with OTIS. These tickers have moved in lockstep 70% of the time. This A.I.-generated data suggests there is a high statistical probability that if ITW jumps, then OTIS could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To ITW
1D Price
Change %
ITW100%
-0.20%
OTIS - ITW
70%
Closely correlated
+0.40%
DOV - ITW
69%
Closely correlated
+0.62%
LECO - ITW
69%
Closely correlated
+0.01%
ITT - ITW
69%
Closely correlated
+0.42%
ROP - ITW
68%
Closely correlated
+0.24%
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