Benzinga Readers Profit as ITW Rallies (ITW)

On September 22, Benzinga

a company called Illinois Tool Works

. The stock has performed well, and we wanted to introduce it again. Illinois Tool Works is a multinational manufacturer of a diversified range of industrial products and equipment. The company has an enormous arsenal of subsidiaries, employs nearly 60,000 people, and enjoyed profits of $1 billion in 2009. As mentioned in the first report, "Notably, the company holds over 20,000 patents as of 2007, and typically ranks in the top 100 of patent issuers in the United States." When Benzinga first spoke about ITW last month, shares were trading at $46.56. Since then, the company has rallied nearly 6%, to $49.37 today. Further, "As of June 30th, Illinois Tool Works has more than $1.2 billion in cash and cash equivalents, which the company can utilize to acquire new companies and expand R&D." Keep an eye on this stock! If shares break above $50, bulls could push the stock even higher. Finally, "This stock may be a great chance to buy a Midwestern company that has ample upside potential."