Illinois Tool Works Inc. : Barclays gives a sell rating

Illinois Tool Works Inc. is a diversified industrial group organized into 7 product families: – Automotive equipment (20.1% of net sales). The group also offers products for maintenance and repair (coatings, seals, shutters, etc.); – electronic devices (17.5%): mainly devices for microelectronic assembly. The group also offers test and measurement equipment and software; – equipment for commercial kitchens (16.3%): stoves, dishwashers, ovens, refrigerators, ventilation systems, etc.; – Construction systems and materials (12.6%): powder and gas nails, perforators and consumables (locks, chisels, pads, dowels, etc.) for applications on wood, steel and concrete; – Polymers, coatings, resins, adhesives and lubricants (11.2%); – Metallurgical equipment (10.5%): arc welding equipment, welding torches, welding accessories, etc. – Specialty products (11.3%): industrial packaging systems and materials, product coding and labeling equipment, etc. Net sales are geographically distributed as follows: United States ( 47.1%), North America (6.9%), Europe/Middle East/Africa (25.8%), Asia/Pacific (18.3%) and South America (1.9%).