ITW - Start Off 2023 Right: This Dividend King Is a Buy
Recession fears have shaken Wall Street in 2022. Many companies are cutting or pulling their guidance, laying off employees, and generally bracing for the macroeconomic storm that might come. But industrial conglomerate Illinois Tool Works (NYSE: ITW) isn't one of them. The company's firing on all cylinders, as evidenced by its strong third-quarter earnings. The company's 59 consecutive annual dividend increases and Dividend King status show that its recent performance is no fluke.
Let's take a closer look at why the company is doing so well and why investors should consider riding this winner's strong performance into what is otherwise an uncertain 2023.
Illinois Tool Works has its hands in various global industries. For starters, the company operates seven unique business segments. They are:
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Start Off 2023 Right: This Dividend King Is a Buy