Standard & Poor's Ratings Services' ratings on Illinois Tool Works Inc. (ITW) reflect the company's strong business position as a globally diversified industrial manufacturer, its track record of solid free cash flow generation, and its modest financial policies. The company's current performance is robust, in line with our expectations. In the most recent quarter (ended July 31, 2011), ITW recorded double-digit organic growth in all eight segments. Acquisitions and currency changes also contributed. They all combined for 17% revenue growth and estimated 24% net income growth. ITW has several key business strengths. These include its leading market shares in a broad range of products, its customer and geographic diversity across a variety of industrial markets, its focus on highly engineered...
Companies mentioned in this report are:
- Illinois Tool Works Inc.
- Dover Corp.
- Eaton Corp.
- Danaher Corp.
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