Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK (

TheStreet

) --

Illinois Tool Works

(NYSE:

ITW

) hit a new 52-week high Friday as it is currently trading at $60.10, above its previous 52-week high of $60 with 3.1 million shares traded as of 2:25 p.m. ET. Average volume has been 3.5 million shares over the past 30 days.

Illinois Tool Works has a market cap of $26.67 billion and is part of the

industrial goods

sector and

industrial

industry. Shares are up 26.1% year to date as of the close of trading on Thursday.

Illinois Tool Works Inc. manufactures various industrial products and equipment worldwide. The company has a P/E ratio of 14.7, above the average industrial industry P/E ratio of 11.8 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Illinois Tool Works as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full

Illinois Tool Works Ratings Report

.

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