3 Stocks Driving The Industrial Goods Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 66 points (-0.4%) at 16,378 as of Thursday, Aug. 7, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,344 issues advancing vs. 1,660 declining with 123 unchanged.

The Industrial Goods sector currently is unchanged today versus the S&P 500, which is down 0.5%. Top gainers within the sector include Middleby ( MIDD), up 16.9%, Huntington Ingalls Industries ( HII), up 3.4%, Pentair ( PNR), up 1.8%, Boeing ( BA), up 1.1% and Parker Hannifin ( PH), up 0.8%. On the negative front, top decliners within the sector include Tenaris ( TS), down 2.4%, Vulcan Materials ( VMC), down 1.9%, ABB ( ABB), down 1.2%, Royal Philips ( PHG), down 1.2% and Nidec ( NJ), down 1.0%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Illinois Tool Works ( ITW) is one of the companies pushing the Industrial Goods sector higher today. As of noon trading, Illinois Tool Works is up $0.48 (0.6%) to $83.26 on average volume. Thus far, 913,054 shares of Illinois Tool Works exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $83.12-$84.08 after having opened the day at $83.25 as compared to the previous trading day's close of $82.78.

Illinois Tool Works Inc. produces and sells engineered fasteners and components, equipment and consumable systems, and specialty products. Illinois Tool Works has a market cap of $34.1 billion and is part of the industrial industry. Shares are down 1.6% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts who rate Illinois Tool Works a buy, 2 analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Illinois Tool Works as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, expanding profit margins and increase in stock price during the past year. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Illinois Tool Works Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

First Leg Down of United Tech; Hurricanes -- Jim Cramer's Top Thoughts

Cramer: Hurricanes Will Break the Decline of the Auto and Housing Industries

These Stocks Have Changed Direction

CBRE Group: Cramer's Top Takeaways