One stock that might be an intriguing choice for investors right now is Illinois Tool Works Inc. (NYSE:ITW).
This is because Illinois Tool Works, which is in the Manufacturing – General Industrial space, is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board.
This is arguably taking place in the Manufacturing – General Industrial space as it currently has a Zacks Industry Rank of 27 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Illinois Tool Works is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from $1.59 per share to $1.63 per share, while current year estimates have risen from $6.19 per share to $6.34 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal.
So, if you are looking for a decent pick in a strong industry, consider Illinois Tool Works. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Will You Make a Fortune on the Shift to Electric Cars?
Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It’s not the one you think.
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