ITW - I'm Using This Dip To Buy Back Into Illinois Tool Works
I sold my shares in Illinois Tool Works (ITW) in February of last year, as I felt the company had become overvalued. At the time, shares were trading at 22.7 times earnings. This had pushed the forward dividend yield down to only 2.0%.
After I sold, shares in ITW continued to climb, reaching a high of $179.07 last January. However, it appears ITW's price might have finally dropped back down to the point where it might be interesting to buy.
The current trailing-twelve-month dividend yield stands at 2.37% which isn't very impressive, although