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Actionable news in ITW: ILLINOIS TOOL WORKS Inc,

Illinois Tool Works Can Add Power to Your Portfolio Ahead of Earnings

Investors who are looking for a solid turnaround candidate should consider Illinois Tool Works (ITW - Get Report) , whose share are down 10% on the year and 12% over the past six months. Illinois Tool, a manufacturer of diversified industrial products and equipment, reports third-quarter fiscal 2015 earnings results before the opening bell Wednesday.

True, the stock hasn't performed well of late. But it's not because of poor execution. The Glenview, Ill.-based company, which is in the midst of a five-year strategic restructuring plan aimed at growing long-term revenue and profits, has beaten Wall Street's earnings estimates in eight straight quarters. If it weren't for the impact of the strong U.S. dollar, which has devalued its overseas sales, ITW stock, which has a consensus buy rating, would be in positive territory.

Among the...