Has Illinois Tool Works (ITW) Outpaced Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Illinois Tool Works (ITW) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Illinois Tool Works is a member of our Industrial Products group, which includes 219 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Illinois Tool Works is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ITW's full-year earnings has moved 3.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ITW has returned 7.1% so far this year. At the same time, Industrial Products stocks have gained an average of 6.9%. As we can see, Illinois Tool Works is performing better than its sector in the calendar year.
O-I Glass (OI) is another Industrial Products stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 40.3%.
Over the past three months, O-I Glass' consensus EPS estimate for the current year has increased 18.7%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Illinois Tool Works belongs to the Manufacturing - General Industrial industry, a group that includes 39 individual stocks and currently sits at #66 in the Zacks Industry Rank. On average, this group has gained an average of 9.1% so far this year, meaning that ITW is slightly underperforming its industry in terms of year-to-date returns.
In contrast, O-I Glass falls under the Glass Products industry. Currently, this industry has 6 stocks and is ranked #34. Since the beginning of the year, the industry has moved +25.6%.
Investors interested in the Industrial Products sector may want to keep a close eye on Illinois Tool Works and O-I Glass as they attempt to continue their solid performance.
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Illinois Tool Works Inc. (ITW) : Free Stock Analysis Report
O-I Glass, Inc. (OI) : Free Stock Analysis Report
