Illinois Tool Works (ITW) Hits 52-Week High as Favorable Article Sees "Enticing" Future
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Illinois Tool Works (NYSE: ITW) shares hit a fresh 52-week high on Monday on the strength of a favorable article from Barron's stating that the company's prospects are as "enticing as ever."
The report states that the company has thrown its weight behind innovation in 2010, as it has boosted its spending on R&D , marketing and product development by 15 percent from last year.
ITW is planning to implement similar increases over the next five years as it sees leveraging innovation as the key to the future growth of the company.
The company has a current market capitalization of $26 billion, and has roughly 19,000 active patents, with more than 2,000 issued in the last two years. ITW is on track to see earnings up 60 percent from the year-ago period on the strength of industrial packaging and electronics.
Barron's also notes that, "Acquisitions are a major contributor to growth at ITW and the company has earned a reputation as a disciplined buyer of assets, one that isn't prone to overpaying. The current focus is on acquiring companies that immediately position ITW on the leading edge in innovative, high-growth markets."
Shares of Illinois Tool Works are up 1.29 percent to $52.64 in early market movement on Monday.
The report states that the company has thrown its weight behind innovation in 2010, as it has boosted its spending on R&D , marketing and product development by 15 percent from last year.
ITW is planning to implement similar increases over the next five years as it sees leveraging innovation as the key to the future growth of the company.
The company has a current market capitalization of $26 billion, and has roughly 19,000 active patents, with more than 2,000 issued in the last two years. ITW is on track to see earnings up 60 percent from the year-ago period on the strength of industrial packaging and electronics.
Barron's also notes that, "Acquisitions are a major contributor to growth at ITW and the company has earned a reputation as a disciplined buyer of assets, one that isn't prone to overpaying. The current focus is on acquiring companies that immediately position ITW on the leading edge in innovative, high-growth markets."
Shares of Illinois Tool Works are up 1.29 percent to $52.64 in early market movement on Monday.
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