Do Traders Think Illinois Tool Works Inc. (ITW) Can Keep Climbing Wednesday?

Overall market sentiment has been high on Illinois Tool Works Inc. (ITW) stock lately. ITW receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Illinois Tool Works Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ITW!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ITW Stock Today?

Illinois Tool Works Inc. (ITW) stock has fallen -0.55% while the S&P 500 is higher by 0.46% as of 2:25 PM on Wednesday, Nov 22. ITW is lower by -$1.33 from the previous closing price of $241.82 on volume of 397,967 shares. Over the past year the S&P 500 has gained 15.42% while ITW is higher by 6.41%. ITW earned $10.30 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 23.28. To see InvestorsObserver's Sentiment Score for Illinois Tool Works Inc. click here.

More About Illinois Tool Works Inc.

Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 87 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle. Click Here to get the full Stock Report for Illinois Tool Works Inc. stock.