CNBC's Jim Cramer Makes Positive Comments on Illinois Tool Works (ITW)
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CNBC's Jim Cramer makes positive comments on Illinois Tool Works Inc. (NYSE: ITW), saying this is a 'New Technology' company and deserves a higher multiple.
Cramer thinks ITW is undervalued and says the company is using technology to produce better and more efficient products that the world needs. Cramer feels the company might turn a profit by meeting the higher demand.
Cramer also sees a win-win situation regarding the bidding war between ITW and Manitowoc Co. Inc. (NYSE: MTW) for Enodis plc. Cramer thinks the share price of both ITW and MTW has been knocked down because of the battle to acquire Enodis. Cramer feels that the stock price of ITW will rise after a deal is announced (regardless of who gets Enodis).
Illinois Tool Works Inc. (ITW) is a worldwide manufacturer of engineered products and equipment. The Company has approximately 825 operations in 52 countries, which are aggregated and organized into eight segments: Industrial Packaging, Power Systems & Electronics, Transportation, Construction Products, Food Equipment, Decorative Surfaces, polymers & Fluids and All Other. [SM]
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