Illinois Tool Works 株価情報 (NYSE: ITW)

最新ニュース Illinois Tool Works (NYSE:ITW) 株価情報

Illinois Tool Works

Founded in 1912, Illinois Tool Works has become a diversified industrial manufacturer through acquisitions and innovations that follow customer needs. ITW operates through seven business segments, with no segment representing more than one fifth of revenue. ITW's automotive OEM segment sells vehicle components; its food equipment segment sells commercial kitchen appliances; its test & measurement and electronics segment sells inspection and analysis equipment; its welding segment sells welding equipment and consumables; its polymers & fluids segment sells industrial and consumer adhesives, solvents, and coatings; its construction products segment sells building fasteners and tools; and its specialty products segment sells medical, packaging, HVAC, and airport ground equipment.

Illinois Tool Works Inc

ProShares Trust ProShares Russell 2000 High Income ETF

Evercore ISI Group analyst David Raso downgrades Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) from In-Line to Underperform and raises the price target from $246 to $255.

News

Downgrades

Price Target

Analyst Ratings

Evercore ISI Group Downgrades Illinois Tool Works to Underperform, Raises Price Target to $255

Invesco has unveiled a new series of thematic exchange-traded funds (ETFs) that focus on artificial intelligence, cybersecurity, and defense sectors. These funds aim to leverage emerging trends within these industries.
What Happened: The newly introduced ETFs, named Invesco Artificial Intelligence Enablers, Cybersecurity, and Defence Innovation Ucits, are based on benchmarks crafted by Kensho, a division of S&amp;P Global Indices. Kensho utilizes natural language processing to pinpoint companies with significant involvement in each theme, categorizing them into &#8220;core&#8221; and &#8220;non-core&#8221; groups, Financial Times<a href="https://www.ft.com/content/476d3e81-cbd2-4484-8fb5-4a074dcaa97c"> reported</a> on Thursday.
As per Invesco, core companies generate a substantial portion of their revenue from products and services aligned with these themes, while non-core companies provide essential inputs without focusing on end products. The AI enablers strategy targets firms advancing AI technology and infrastructure, whereas the cybersecurity ETF invests in companies protecting enterprises from unauthorized electronic access. The defense fund provides exposure to companies developing advanced weapons and defensive systems
Here are a few ETFs and how they fared in the past year, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>:
Artificial Intelligence
<ul>
<li>iShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) increased 45.40% over the year with holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).</li>
<li>Fidelity MSCI Information Technology Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTEC#NYSE">FTEC</a>), with similar exposure, rose 43.17%.</li>
<li>First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTX#NYSE">FTX</a>), which gives exposure to Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), increased 45.59%.</li>
</ul>
Cybersecurity
<ul>
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) increased 38.08%. Its holdings include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>).</li>
<li>Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>) rose 39.57%. Along with Broadcom, and Cisco, the ETF&#8217;s major holdings also include Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), and General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>).</li>
<li>iShares Cybersecurity &amp; Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>) with exposure to companies such as SentinelOne, Inc. Class A (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>), and Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), rose 33.95%.</li>
</ul>
Defense
<ul>
<li>iShares US Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) with exposure to companies such as General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) and RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) increased 33.86%.</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) with exposure to companies such as Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Lockheed Martin Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) increased by 43.05%.</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) was up by 34.86%. It gives exposure to Axon Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXN#NASDAQ">AXN</a>), L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>).</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year</a>
Why It Matters: The launch of these ETFs by Invesco comes at a time when thematic investing is<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41713236/donald-trumps-return-to-white-house-could-propel-these-etfs-to-new-highs"> gaining traction among investors</a> looking to capitalize on specific industry trends. The focus on artificial intelligence, cybersecurity, and defense aligns with growing global interest in these areas, driven by technological advancements and increasing security concerns.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Invesco

New ETFs

Markets

ETFs

General

AAPL

AMZN

AVGO

CIBR

CRWD

CSCO

FTEC

FTNT

HACK

IHAK

iShares Dow Jones US Aerospace & Defense Index Fund

MSFT

NFLX

PANW

Invesco Launches New ETFs Targeting AI, Cybersecurity, And Defense. Here's How Some Of Their Peers Have Performed In The Past Year

WIIM

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CVGI

EPAC

FELE

GTES

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OFLX

PCAR

PKOH

PLOW

PRLB

SHYF

SPXC

TAYD

Shares of machinery companies are trading higher. Investors may be reacting to the US presidential election and its impact on the industry.

Barclays analyst Julian Mitchell maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Underweight and raises the price target from $215 to $230.

Barclays Maintains Underweight on Illinois Tool Works, Raises Price Target to $230

Baird analyst Mig Dobre maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Neutral and raises the price target from $240 to $250.

Baird Maintains Neutral on Illinois Tool Works, Raises Price Target to $250

Illinois Tool Works shares are trading higher after the company reported better-than-expected Q3 adjusted EPS results.

Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) shares are trading higher after the company reported mixed <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41622407/itw-reports-third-quarter-2024-results" rel="noreferrer noopener">third-quarter 2024 results</a>.
The company reported revenue of $3.966 billion, a decline of 1.6% year-over-year, missing the consensus of $4.017 billion.
The revenue saw a 1.4% drop in organic growth, a 0.4% foreign currency impact, and a 0.2% boost from acquisitions.
See Also: <a href="https://www.benzinga.com/general/biotech/24/10/41622207/eli-lilly-q3-earnings-mounjaro-sales-more-than-double-takes-2-98-billion-hit-to-profit-cuts-annua">Eli Lilly Q3 Earnings: Mounjaro Sales More Than Double, Takes $2.98 Billion Hit To Profit, Cuts Annual Outlook, Stock Tanks</a>
Revenue By Segments: 
<ul>
<li>Automotive OEM $772 million (-3% YoY)</li>
<li>Food Equipment $677 million (almost flat YoY)</li>
<li>Test &amp; Measurement and Electronics $697 million (flat YoY)</li>
<li>Welding $462 million (-1% Y/Y)</li>
<li>Polymers &amp; Fluids $448 million (-2% Y/Y)</li>
<li>Construction Products $479 million (-8% Y/Y) and </li>
<li>Specialty Products $438 million (+6% Y/Y).</li>
</ul>
Adj. EPS for the quarter stood at $2.65, up 4% YoY, above the consensus of $2.53.
The operating income increased 1.7% YoY to $1.052 billion, and the operating margin was flat at 26.5%.
ITW's Operating cash flow was $891 million, and free cash flow was $783 million, with a conversion rate to adjusted net income of 102 percent.
The company repurchased $375 million worth of shares and raised its dividend seven percent to an annualized $6.00 per share.
ITW during the quarter sold its noncontrolling interest in Wilsonart, netting $395 million and a pre-tax gain of $363 million. A tax benefit contributed to a $1.26 favorable GAAP EPS impact, with minimal future impact expected.
"All year, our focused execution and operational excellence have enabled the Company to effectively counter persistent market headwinds and achieve solid growth in margin and profitability while we continued to manage and invest in ITW to maximize growth and performance over the long term" CEO Christopher A. O'Herlihy said.
ITW&#8217;s &#8220;long-term strategy&#8221; is to build above-market organic growth, O'Herlihy added.
2024 Guidance: Illinois Tool Works raised its GAAP EPS forecast to $11.63 to $11.73 from $10.30-$10.40 versus consensus of $10.29.
The company maintains its revenue and organic growth guidance to be approximately flat for 2024.
ITW operating margin guidance to 26.5%- 27% up 165 bps at midpoint, with enterprise initiatives adding over 100 bps. Free cash flow is expected to exceed 100% of net income, and the company plans to repurchase ~$1.5 billion in shares in 2024.
Price Action: ITW shares traded higher by 0.34% at $256.91 at the last check Wednesday.
Now Read:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41623984/us-economy-grows-less-than-expected-in-q3-yet-private-employment-soars-by-233-000">US Economy Grows Less Than Expected In Q3, Yet Private Employment Soars By 233,000 In October</a></li>
</ul>

Earnings

Guidance

Illinois Tool Works Navigates Market Headwinds With Mixed Q3 Results And Revised EPS Outlook

Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) reported quarterly earnings of $2.65 per share which beat the analyst consensus estimate of $2.53 by 4.74 percent. The company reported quarterly sales of $3.966 billion which missed the analyst consensus estimate of $4.017 billion by 1.28 percent. This is a 1.61 percent decrease over sales of $4.031 billion the same period last year.

Earnings Beats

Earnings Misses

Illinois Tool Works Q3 2024 Adj. EPS $2.65 Beats $2.53 Estimate, Sales $3.966B Miss $4.017B Estimate

Stifel analyst Nathan Jones maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Hold and raises the price target from $260 to $262.

Stifel Maintains Hold on Illinois Tool Works, Raises Price Target to $262

Truist Securities analyst Jamie Cook maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Buy and raises the price target from $281 to $312.

Truist Securities Maintains Buy on Illinois Tool Works, Raises Price Target to $312

Wells Fargo analyst Joseph O'Dea maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Underweight and raises the price target from $236 to $250.

Wells Fargo Maintains Underweight on Illinois Tool Works, Raises Price Target to $250

Illinois Tool Works's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) short percent of float has risen 6.08% since its last report. The company recently reported that it has 5.65 million shares sold short, which is 1.92% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.19 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Illinois Tool Works Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725989422_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Illinois Tool Works has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Illinois Tool Works's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Illinois Tool Works's peer group average for short interest as a percentage of float is 1.58%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

How Is The Market Feeling About Illinois Tool Works?

Evercore ISI Group maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a In-Line and lowers the price target from $251 to $246.

Evercore ISI Group Maintains In-Line on Illinois Tool Works, Lowers Price Target to $246

The Board of Directors of Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.10 per share – or $0.40 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.50 per share for the third quarter of 2024. The dividend equates to $6.00 per share on a full-year basis. The dividend will be paid on October 11, 2024 to shareholders of record as of September 30, 2024.

Dividends

ITW Board of Directors Approves Quarterly Dividend Increase From $1.40 To $1.50 Per Share

Barclays analyst Julian Mitchell maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Underweight and lowers the price target from $217 to $215.

Barclays Maintains Underweight on Illinois Tool Works, Lowers Price Target to $215

JP Morgan analyst Tami Zakaria maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Overweight and raises the price target from $267 to $270.

JP Morgan Maintains Overweight on Illinois Tool Works, Raises Price Target to $270

Wells Fargo analyst Joseph O'Dea maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Underweight and raises the price target from $230 to $236.

Wells Fargo Maintains Underweight on Illinois Tool Works, Raises Price Target to $236

Stifel analyst Nathan Jones maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Hold and lowers the price target from $268 to $260.

Stifel Maintains Hold on Illinois Tool Works, Lowers Price Target to $260

Truist Securities analyst Jamie Cook maintains Illinois Tool Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>) with a Buy and lowers the price target from $283 to $281.

Truist Securities Maintains Buy on Illinois Tool Works, Lowers Price Target to $281

Investor sentiment took a hit on Tuesday as caution prevailed ahead of significant market events, including key tech earnings reports and the Federal <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from">Open Market Committee meeting.</a>
The Nasdaq 100, heavily weighted with tech stocks, experienced the most significant decline among major U.S. indices, dropping 1.5%. Semiconductor stocks were particularly affected, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) plummeting over 6% to a two-month low, impacting the entire industry. 
Consequently, the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) fell nearly 3%, marking its sixth negative close in the last eight sessions.
The S&amp;P 500 also dipped 0.8%, primarily due to its heavy tech exposure, while the Dow Jones and Russell 2000 managed to avoid losses. Notably, the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) has outperformed tech stocks by 15% so far this month.
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) declined more than 1% ahead of its post-market earnings announcement, while Apple Inc., Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) experienced smaller losses in anticipation of their reports later in the week.
Crowdstrike Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) was the worst-performing tech stock on Tuesday, plunging nearly 12% after Delta Air Lines announced it would seek compensation from the cybersecurity firm for last week's outage.
Meanwhile, Treasury yields remained steady, gold edged up 0.3%, and the Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXY#NYSE">FXY</a>), gained 0.4% against the dollar in anticipation of a potential Bank of Japan rate hike.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.5% to $65,812.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,607.10</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.74</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,422.36</td>
<td>-0.8%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,778.20</td>
<td>-1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. ET</figcaption></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1">According to Benzinga Pro data:</a>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.7% lower to $541.00.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.3% to $406.60.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.5% to $457.06.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.16% to $222.09.</li>
<li>Sector-wise, the Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperformed, up 1.2%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.4%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), up over 11%.</li>
<li>Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>), up 2.7%</li>
<li>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>), down 18%.</li>
<li>Chesapeake Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NYSE">CHK</a>), down 0.6%.</li>
<li>Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>), down 18%.</li>
<li>Crane Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CR#NYSE">CR</a>), down 4%. </li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), down 8%. </li>
<li>Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), down 5.6%. </li>
<li>Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), down 10%. </li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), down 0.5%. </li>
<li>S&amp;P Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SP#NYSE">SP</a>), down 0.7%. </li>
<li>Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>), down 0.5%,</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 7.4%. </li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>), down 8.4%.</li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), up 5.2%. </li>
<li>American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), flat. </li>
<li>Gartner Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IT#NYSE">IT</a>), up 6.7%. </li>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), down 0.4%</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>), up 17%.</li>
<li>LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>), up 8%. </li>
<li>Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), up 0.6%. </li>
<li>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), down 0.5% </li>
<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) down 1.9%. </li>
</ul>
Companies reporting earnings after the close include: 
<ul>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>)</li>
<li>Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>)</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>)</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>)</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>)</li>
<li>Microsoft</li>
<li>Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>)</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>)</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) </li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>).</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40044042/job-openings-hold-steady-in-june-ahead-of-crucial-july-labor-market-data-why-this">Job Openings Hold Steady In June Ahead Of Crucial July Labor Market Data: Why This Analyst Expects Robust Payrolls</a></li>
</ul>
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Amid robust economic growth, lower borrowing costs, and adoption of cutting-edge technologies, the industrial market's long-term growth is robust. Hence, fundamentally solid industrial stocks Honeywell International (HON), Illinois Tool Works (ITW), and Cummins (CMI) could be ideal buys for the infrastructure boom. Keep reading... The industrial market is well-positioned for continued growth with increasing infrastructure spending owing to supportive government initiatives and the adoption of advanced technologies like AI, machine learning, and smart devices.
Amid this backdrop, investors could consider investing in quality industrial stocks Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>), Illinois Tool Works Inc. (<a href="https://stocknews.com/stock/ITW/">ITW</a>), and Cummins Inc. (<a href="https://stocknews.com/stock/CMI/">CMI</a>) to invest in the infrastructure boom.
The industrial sector is undergoing a transformative phase with easing inflation, recent <a href="https://www.cbreim.com/insights/articles/infrastructure-quarterly-q3-2024">50-basis points cut</a> by the Federal Reserve, sound economic growth, and the adoption of digital technologies. The reducing interest rates will positively impact the long-duration infrastructure spending outlook by easing borrowing costs and could support its long-term growth.
Further, the Infrastructure Investment and Jobs Act- IIJA or the Bipartisan Infrastructure Law has embarked upon various revolutionizing funding and projects that are significantly changing the shape of the U.S. economy. In a recent round of funding, the <a href="https://www.transportation.gov/briefing-room/investing-america-biden-harris-administration-announces-more-42-billion-bipartisan">administration announced more than $4.2 billion</a> in funding to improve safety, mobility, and economic competitiveness.
With this, <a href="https://www.spglobal.com/ratings/en/research/articles/240514-record-u-s-infrastructure-spending-is-colliding-with-higher-construction-costs-and-other-hurdles-13104338">infrastructure spending continues to rise</a> through 2024 as nearly $1.80 trillion was assigned to the U.S. economy through federal grants, loans, incentives, tax credits, and other financial assistance works.
The global industrial machinery market is anticipated to register a CAGR of 7.5%, resulting in a market volume of <a href="https://www.gminsights.com/industry-analysis/industrial-machinery-market">$1.30 trillion by 2032</a>. The market in expected to grow with the increasing adoption of automation and smart technologies, and modern industrial processes.
Also, the global industry 4.0 market size is revolutionizing the operations and processes. The market is expected to reach around $482 billion by 2032, growing at a <a href="https://market.us/report/industry-4-0-market/">CAGR of 20.7%</a>.
Considering these favorable market trends, let's look at the fundamentals of the top three <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> stocks, beginning with the third choice.
Stock #3: Honeywell International Inc. (<a href="https://stocknews.com/stock/HON/">HON</a>)
HON engages in aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses internationally. The company operates in Aerospace; Honeywell Building Technologies; Performance Materials and Technologies; and Safety and Productivity Solutions segments.
On October 21, HON and Google Cloud announced a collaboration to connect artificial intelligence (AI) agents with assets, people, and processes to accelerate safer, autonomous operations for the industrial sector. The strategic partnership will enhance HON's product offerings and help it upskill the industrial workforce.
The partnership will bring together the multimodality and natural language capabilities of Gemini on Vertex AI, a Google Cloud's AI platform, and the massive data set on Honeywell Forge, a leading Internet of Things (IoT) platform for industrials.
On October 14, HON was awarded a $103 million contract by the U.S. Army through the Defense Logistics Agency to offer its Next-Generation APN-209 Radar Altimeter (Next Gen APN-209) system on a wide variety of Army aircraft. The award reflects HON's commitment to delivering advanced, reliable technology to support U.S. Army missions.
HON reported net sales of $9.73 billion for the third quarter that ended September 30, 2024, up 5.6% year-over-year. Its segment profit grew 5.8% from the year-ago value to $2.30 billion. The company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $1.42 billion for the quarter, while its adjusted EPS was $2.58, up 8.4% from the prior-year quarter, respectively.
Furthermore, the company's free cash flow rose 10.1% year-over-year to $1.72 billion.
The company updated its full-year 2024 guidance. HON projects its sales between $38.60 billion and $38.80 billion, whereas its adjusted EPS is expected to be $10.15 - $10.25. Also, the company's free cash flow is set to range from $5.10 billion to $5.40 billion.
Street expects HON's revenue and EPS for the fourth quarter (ending December 2024) to increase 8.5% and 6.9% year-over-year to $10.24 billion and $2.78, respectively. Also, the company has topped the consensus EPS estimate in each of the trailing four quarters.
Shares of HON have increased 11.8% over the past six months and 20.8% over the past year to close the last trading session at $228.85.
HON's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Momentum, Stability, and Growth. Within the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, HON is ranked #26 out of 80 stocks.
<a href="https://stocknews.com/stock/HON/">Click here</a> to access additional ratings of HON for Quality, Sentiment, and Value.
Stock #2: Illinois Tool Works Inc. (<a href="https://stocknews.com/stock/ITW/">ITW</a>)
ITW manufactures and sells industrial products and equipment worldwide. The company operates in seven segments: Automotive OEM; Food Equipment; Test &amp; Measurement and Electronics; Welding; Polymers &amp; Fluids; Construction Products; and Specialty Products.
On October 24, ITW's Board of Directors declared a dividend on its common stock of $1.50 per share in respect of the fourth quarter of 2024. The dividend is payable on January 10, 2025, to shareholders of record as of December 31, 2024.
ITW pays an annual dividend of $6, which translates to a yield of 2.22% at the current share price. Its four-year average dividend yield is 2.20%. Moreover, the company's dividend payouts have increased at a CAGR of 7.1% over the past three years. ITW has raised its dividends for 28 consecutive years.
For the third quarter that ended September 30, 2024, ITW reported operating revenue of $3.97 billion, and its operating income totaled $1.05 billion for the quarter. The company's net income amounted to $1.16 billion or $3.91 per share, indicating growth of 50.3% and 53.3% from the prior year's quarter, respectively.
The company raised its full-year EPS guidance by $1.33 to a range of $11.63 to $11.73 per share from the previous range of $10.30 to $10.40.
Analysts expect the company's EPS for the fourth quarter (ending December 2024) to increase 3.9% year-over-year to $2.51, and its revenue is expected to grow marginally year-over-year to $4 billion for the same period. Moreover, ITW has topped the consensus EPS estimates in all of the trailing four quarters.
ITW's shares have gained 7.8% over the past six months and 12.7% over the past year to close the last trading session at $270.06.
ITW's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has an A grade for Quality. It also has a B grade for Stability and Momentum. Within the A-rated Industrial - Machinery industry, ITW is ranked #23 out of 80 stocks.
In addition to the POWR Ratings we've stated above, we also have ITW ratings for Value, Growth, and Sentiment. Get all ITW ratings <a href="https://stocknews.com/stock/ITW/">here</a>.
Stock #1: Cummins Inc. (<a href="https://stocknews.com/stock/CMI/">CMI</a>)
CMI designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components globally. The company operates in five segments: Engine; Distribution; Components; Power Systems; and Accelera.
On October 15, CMI's Board of Directors declared a quarterly dividend on its common stock of $1.82 per share. The dividend will be paid on December 5, 2024, to shareholders of record on November 22, 2024.
CMI pays an annual dividend of $7.28, which translates to a yield of 2% at the current share price. Its four-year average dividend yield is 2.49%. Moreover, the company's dividend payouts have increased at a CAGR of 7.7% over the past five years. CMI has raised its dividends for eight consecutive years.
On July 11, CMI was awarded $75 million to convert approximately 360,000 sq. ft. of existing manufacturing space at its Columbus Engine Plant for zero-emissions components and electric powertrain systems. This grant marked the biggest federal grant ever awarded to CMI solely.
For the third quarter that ended September 30, 2024, CMI's net sales rose marginally from the prior-year quarter to $8.46 billion. Its operating income grew 10.5% year-over-year to $1.05 billion. Net income and EPS attributable to CMI came in at $809 million and $5.86, up 23.3% and 27.7% from the prior year's quarter, respectively.
Also, the company's EBITDA stood at $1.39 billion, indicating growth of 12.9% year-over-year.
The consensus revenue estimate of $34.76 billion for the fiscal year (ending December 2025) represents a 3.2% increase year-over-year. The consensus EPS estimate of $22.09 for the same year indicates a 6.9% improvement year-over-year. The company has an impressive earnings surprise history; it surpassed the consensus revenue and EPS estimates in three of the trailing four quarters.
CMI's stock has increased 27.8% over the past six months and 62.4% over the past year to close the last trading session at $364.02.
CMI's POWR Ratings reflect its sound fundamentals. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
CMI has a B grade for Stability, Sentiment, and Quality. It is ranked #7 out of 80 stocks in the same industry.
In addition to the POWR Ratings we've stated above, we also have CMI ratings for Value, Momentum, and Growth. Get all CMI ratings <a href="https://stocknews.com/stock/CMI/">here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
HON shares were trading at $227.98 per share on Tuesday afternoon, down $0.87 (-0.38%). Year-to-date, HON has gained 11.03%, versus a 25.18% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/hon-itw-cmi-3-industrial-stocks-to-buy-for-infrastructure-boom/>3 Industrial Stocks to Buy for Infrastructure Boom</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Industrial Stocks to Buy for Infrastructure Boom

Argus keeps a Buy rating on Illinois Tool Works (ITW) with a price target of $295. The company has been able to expand margins in six of its seven ...

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