Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “buy” rating reaffirmed by stock analysts at BMO Capital Markets in a note issued to investors on Thursday. They presently have a $160.00 target price on the industrial products company’s stock. BMO Capital Markets’ target price points to a potential upside of 8.34% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Wednesday, March 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $155.00 price objective (up from $145.00) on shares of Illinois Tool Works in a research note on Tuesday, April 11th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Argus lifted their price objective on Illinois Tool Works from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Citigroup Inc. lifted their price objective on Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $148.69.

Illinois Tool Works (NYSE:ITW) opened at 147.49 on Thursday. The firm has a 50-day moving average price of $145.36 and a 200 day moving average price of $135.44. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $150.29. The company has a market cap of $50.95 billion, a P/E ratio of 24.78 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.09. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that Illinois Tool Works will post $6.38 EPS for the current year.

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In other news, insider John R. Hartnett sold 11,750 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the completion of the sale, the insider now directly owns 23,839 shares of the company’s stock, valued at approximately $3,455,701.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael R. Zimmerman sold 5,000 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $140.00, for a total value of $700,000.00. Following the completion of the sale, the insider now directly owns 7,626 shares of the company’s stock, valued at $1,067,640. The disclosure for this sale can be found here. Insiders sold a total of 220,850 shares of company stock valued at $30,945,971 over the last three months. Company insiders own 0.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after buying an additional 18,221,359 shares during the last quarter. Wells Fargo & Company MN increased its stake in Illinois Tool Works by 3.6% in the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Illinois Tool Works by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 4,554,364 shares of the industrial products company’s stock valued at $603,315,000 after buying an additional 67,451 shares in the last quarter. FMR LLC increased its stake in Illinois Tool Works by 0.7% in the first quarter. FMR LLC now owns 3,449,170 shares of the industrial products company’s stock valued at $456,912,000 after buying an additional 23,205 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Illinois Tool Works by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after buying an additional 203,294 shares in the last quarter. 75.47% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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