Investors, both new and old, aim to make the most of the stock market and invest with confidence. One way to achieve this is by utilizing the Zacks Style Scores, which assess stocks based on their value, growth, and momentum characteristics.
Growth investors look for financially strong companies with promising futures. Illinois Tool Works (ITW), headquartered in Glenview, IL, fits this description. ITW, a manufacturer of highly engineered products and specialty systems, operates globally through seven business segments.
Currently holding a Zacks Rank #3 (Hold), ITW has a Growth Style Score of B and a VGM Score of B. Earnings and sales are expected to rise by 4.7% and 1.8% year-over-year, respectively. Analysts have revised earnings estimates upwards, with the Zacks Consensus Estimate now at $10.24 per share for 2024.
ITW also boasts strong cash flow growth, with a 2.2% increase and a projected 3.3% expansion in 2024. With solid fundamentals, a favorable Zacks Rank, and impressive Growth and VGM Style Scores, ITW is a stock to consider adding to your watchlist.
For more investment recommendations, consider downloading the 7 Best Stocks for the Next 30 Days from Zacks Investment Research.