Illinois Tool Works: An Exercise In Fair Value

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The boilerplate:

Illinois Tool Works, Inc. (ITW) manufactures industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Test & Measurement and Electronics segment manufactures equipment, consumables, and related software for testing and measuring of materials, structures, gases, and fluids. The Food Equipment segment supplies commercial food equipment and provides related services.

The Polymers & Fluids segment provides adhesives, sealants, lubrication and cutting fluids, janitorial and hygiene products, and fluids and polymers for auto aftermarket maintenance and appearance. The Welding segment furnishes arc welding equipment, consumables, and accessories for a wide array of industrial and commercial applications. The Construction Products segment makes construction fastening systems and truss products. The Specialty Products segment manufacturing beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners.

The company was founded by Byron L. Smith in 1912 and is headquartered in Glenview, IL.

Disclaimer: The opinions in this document are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...

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