Illinois Tool Works stock slips 1.92% in weak market
Updated
Updated · MarketWatch · May 7
Illinois Tool Works stock slips 1.92% in weak market
7 articles · Updated · MarketWatch · May 7
Shares closed at $255.53 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
The decline ended a two-day winning streak and left the stock 15.71% below its 52-week high of $303.16 reached on 12 February.
Illinois Tool Works lagged 3M's 1.90% fall and Amphenol's 1.34% drop, while Roper rose 0.62%; trading volume reached 1.4 million, above its 50-day average.
ITW beat earnings and raised guidance, so why is Wall Street treating it like a company in decline?
Is ITW's high-margin, low-growth model a safe haven or a dinosaur in the new industrial revolution?