MMM - Is Illinois Tool Works Still a Buy?
Anyone who just blindly blames the economy for all industrial stocks' woes might want to take a look at the difference in performance between Illinois Tool Works (NYSE: ITW) and 3M (NYSE: MMM) over the last year. The former is up 37%, while its multi-industry peer is down 8.6% in the same period. Let's look at what Illinois Tool Works is doing right and whether it can continue.
It's no secret that the industrial sector has seen broad-based slowing in 2019; indeed, blue chip stocks like 3M and Caterpillar have both lowered full-year guidance during the current earnings season. Similarly, ITW's recent third-quarter earnings showed the signs of strain.
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