Illinois Tool Works is a solid manufacturing bet on the global economy
Article Excerpt
A Member of Pat McKeough’s Inner Circle recently asked for his advice on Illinois Tool Works, a company that makes specialized industrial equipment and consumables while offering related services.
Pat likes the company’s sound balance sheet, consistently rising revenues and earnings and solid 2.3% yield. It’s also actively buying back its own shares.
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Illinois Tool Works (Symbol ITW on New York; www.itw.com) is a multi-industry manufacturer operating in over 53 countries. Known as ITW, the company’s diversified range of industrial products includes aerospace technology, bridges, wind turbines, restaurant appliances, packaging solutions, electronics, deep-sea welding products, and a range of automotive components such as fasteners, door handles, powertrain, and refuelling systems. ITW has a portfolio of more than 18,500 granted and pending patents.
To generate value for investors, the company operates in seven industry segments: automotive products (19% of revenue); test, measurement and electronics (18%); food equipment (15%); construction products (13%); polymers & fluids (12%); welding (12%); and specialty products (11%).
In 2012, ITW changed its…
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