- The article discusses nine companies that increased their dividends last week, including Illinois Tool Works (ITW). ITW raised its quarterly dividends by 6.90% to $1.40/share, marking its 52nd consecutive annual dividend increase. The stock went up by 1.25% last night. The reason for the increase in ITW's stock could be attributed to the positive sentiment surrounding the company's consistent dividend growth and strong financial performance, with earnings growing from $3.76/share in 2013 to $9.80/share in 2022, and an expected earnings of $9.74/share in 2023.
- Illinois Tool Works (ITW) stock went up by 1.25% last night, following a recent sell-off, likely due to the company's strong performance and guidance. ITW's strategy focuses on achieving high operating margins and return on invested capital, aiming for 9-10% annual earnings-per-share growth, 7% annual dividend growth, and free cash flow over 100% of net income. The company's status as a Dividend King that has paid and raised dividends for over 52 consecutive years serves as an incentive for investors. ITW's impressive convertion of revenue to operating income and net income can be attributed to its complex and decentralized business structure, where each segment operates independently. Despite a lack of revenue growth, ITW has been a market-beating stock and is suitable for risk-averse investors looking for passive income.