The First Stock to Buy in a Market Sell-Off
Illinois Tool Works (NYSE: ITW) is one of the best-run companies in America, and despite facing significant headwinds from the COVID-19 pandemic, the company is in excellent shape in 2021. The positive state of affairs comes about as CEO Scott Santi utilizes a playbook almost of his very own. Let's take a look at what's going on and whether Illinois Tool Works is a good value for investors right now.
When the pandemic spread out of China, most companies immediately turned to a recession playbook involving job cuts and furloughs for unneeded workers. ITW chose another way. In the words of Santi during the most recent earnings call, the multi-industry industrial company's management decided not to "initiate any enterprisewide employment reduction mandated programs at any point in 2020."
Source Fool.com