Machinery Stocks on Investors' Radar -- Ocean Power Technologies, 3M, Illinois Tool Works, and ITT Inc.

Sep 12, 2016, 07:50 ET from Chelmsford Park SA

NEW YORK, September 12, 2016 /PRNewswire/ --

Ahead of today's trading session, is closely reviewing the following Diversified Machinery equities: Ocean Power Technologies Inc. (NASDAQ: OPTT), 3M Co. (NYSE: MMM), Illinois Tool Works Inc. (NYSE: ITW), and ITT Inc. (NYSE: ITT). These stocks belong in the Industrials sector, which is involved in the production of construction and manufacturing goods. On September 01, 2016, research firm Charles Schwab has reiterated its "Market Perform" rating on the sector given some slight improvements in global manufacturing. Learn more about these stocks by downloading their comprehensive and free reports at:

Ocean Power Technologies  

Pennington, New Jersey headquartered Ocean Power Technologies Inc.'s shares finished Friday's session 2.22% lower at $7.94 with a total volume of 578,030 shares traded. The stock has surged 123.66% in the previous three months and 278.10% on an YTD basis. The Company's shares are trading above their 50-day and 200-day moving averages by 5.37% and 126.68%, respectively. Moreover, shares of Ocean Power Technologies, which develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in North America, Europe, Asia, and Australia, have a Relative Strength Index (RSI) of 51.57.

As per notes filed on August 29th, 2016 with the SEC, Matthew T. Shafer on August 23rd , 2016 was hired as the Chief Financial Officer, Vice President of Finance, and Treasurer of Ocean Power Technologies, effective September 7th, 2016. In connection with his hiring, Mr. Shafer will also serve as principal financial officer of the Company. Mr. Shafer will replace Mark Featherstone, who currently serves as the Company's Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer. OPTT complete research report is just a click away and free at:


Shares in St. Paul, Minnesota headquartered 3M Co. ended the day 2.48% lower at $175.64. A total volume of 2.08 million shares was traded, which was above their three months average volume of 1.77 million shares. The stock has advanced 4.85% in the previous three months and 18.96% since the start of this year. The Company's shares are trading 7.92% above their 200-day moving average. Moreover, shares of 3M, which operates as a diversified technology company worldwide, have an RSI of 35.15.

On September 08th, 2016, 3M announced that it has entered into an agreement to sell the assets of its temporary protective films business to Pregis LLC. 3M's temporary protective films business is a provider of adhesive-backed temporary protective films used in a broad range of industries, including automotive, appliance, metalworking, building and construction. The business has annual global sales of approximately $50 million. Upon completion of the sale of the business, 3M is expected to realize a small gain which will be offset by other actions during the remainder of 2016. The complimentary report on MMM can be downloaded at:

Illinois Tool Works  

Glenview, Illinois headquartered Illinois Tool Works Inc.'s shares fell 2.72%, closing the session at $115.78. A total volume of 1.80 million shares was traded, which was above their three months average volume of 1.47 million shares. The stock has gained 7.71% in the previous three months and 26.31% on an YTD basis. The Company's shares are trading 0.69% above their 50-day moving average and 14.25% above their 200-day moving average. Additionally, shares of Illinois Tool Works, which manufactures and sells industrial products and equipment worldwide, have an RSI of 39.53.

On August 8th, 2016, Despatch, a member of ITW EAE, a division of Illinois Tools Works, reported its initial customer evaluation of the Despatch Split-Zone™ Oxidation Oven. Tests were conducted using premium grade fiber running through a single oven that simulated multiple zones. The baseline to achieve the target density was 5 zones with a dwell time of 67.3 minutes. Using the Split-Zone the target density was achieved in just two zones with a dwell time of 44 minutes, a reduction in cycle time of nearly 35%.  Oxidation consumes the most energy, has the largest factory footprint, and is the largest capital investment in a carbon fiber line. Sign up for your complimentary research report on ITW at:

ITT Inc. 

On Friday, shares in White Plains, New York headquartered ITT Inc. closed the session 3.38% lower at $34.61 with a total volume of 540,897 shares traded. The stock has gained 1.28% in the last month. The Company's shares are trading above their 50-day moving average by 2.80%. Furthermore, shares of ITT Inc., which manufactures and sells engineered critical components and customized technology solutions for the energy, transportation, and industrial markets worldwide, have an RSI of 44.26. Get free access to your research report on ITT at:


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