Illinois Tool Works Inc Also Approved New Share Repurchase Program That Authorizes Management To Purchase Up To $5B Of Company's Common Stock
Portfolio Pulse from Benzinga Newsdesk
Illinois Tool Works Inc. has approved a new share repurchase program that authorizes management to purchase up to $5 billion of the company's common stock.

August 04, 2023 | 4:17 pm
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Illinois Tool Works Inc. has approved a new share repurchase program, which could potentially increase the company's stock price in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, as it's essentially investing in itself. This could potentially lead to an increase in the company's stock price in the short term, as it reduces the number of shares in circulation, thereby increasing earnings per share and often leading to a higher stock price.
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