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February 19, 2013
09:04 EDTITWIllinois Tool Works announces strategic review of industrial packaging segment
Illinois Tool Works announced that it is initiating a review process to explore strategic alternatives for its Industrial Packaging segment. The Industrial Packaging segment designs and manufactures steel, plastic, and paper products used for bundling, shipping, and protecting transported goods. The segment includes such well known brands as Signode, Strapex, Angleboard and Mima among others and had 2012 revenues of approximately $2.4B. To assist the company in evaluating its strategic alternatives, ITW has retained J.P. Morgan Securities LLC and Goldman, Sachs & Co. as its financial advisers.
News For ITW From The Last 14 Days
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September 3, 2015
10:03 EDTITWOn The Fly: Analyst Upgrade Summary
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06:54 EDTITWIllinois Tool Works upgraded to Buy from Neutral at Goldman
Goldman upgraded Illinois Tool Works to Buy and lowered its price target to $99 from $101. The firm views Illinois Tool Works' valuation as compelling and earnings will be more resilient than investors believe. Goldman believes the company's margin story still has room to expand driven by improved sourcing, amortization roll-off, product line simplification, and cost efficiencies.

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