Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Group LLC in a research report issued to clients and investors on Tuesday. They currently have a $170.00 price objective on the industrial products company’s stock, up from their previous price objective of $155.00. Jefferies Group LLC’s price target suggests a potential upside of 20.01% from the company’s current price.

A number of other research analysts have also recently commented on the company. Royal Bank Of Canada upped their price target on Illinois Tool Works from $141.00 to $143.00 and gave the stock a “sector perform” rating in a research note on Tuesday. BMO Capital Markets restated a “buy” rating and set a $160.00 price target on shares of Illinois Tool Works in a research note on Thursday, July 20th. Stifel Nicolaus restated a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research note on Friday, July 14th. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Buy” and an average price target of $149.69.

Shares of Illinois Tool Works (NYSE ITW) traded down 0.23% during midday trading on Tuesday, hitting $141.65. The stock had a trading volume of 2,068,700 shares. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $150.29. The stock’s 50-day moving average is $145.59 and its 200-day moving average is $135.95. The stock has a market cap of $48.93 billion, a PE ratio of 23.79 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. Equities analysts anticipate that Illinois Tool Works will post $6.38 EPS for the current year.

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In related news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the sale, the insider now owns 55,878 shares in the company, valued at $8,046,432. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John R. Hartnett sold 13,889 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $139.27, for a total transaction of $1,934,321.03. Following the completion of the sale, the insider now owns 25,978 shares of the company’s stock, valued at approximately $3,617,956.06. The disclosure for this sale can be found here. Insiders sold 215,850 shares of company stock valued at $30,245,971 in the last 90 days. 0.90% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $2,027,000. Perigon Wealth Management LLC boosted its position in shares of Illinois Tool Works by 20.3% in the fourth quarter. Perigon Wealth Management LLC now owns 1,481 shares of the industrial products company’s stock worth $199,000 after buying an additional 250 shares during the period. HighPoint Advisor Group LLC boosted its position in shares of Illinois Tool Works by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,947 shares of the industrial products company’s stock worth $1,207,000 after buying an additional 33 shares during the period. Teachers Advisors LLC boosted its position in shares of Illinois Tool Works by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 905,590 shares of the industrial products company’s stock worth $110,899,000 after buying an additional 39,223 shares during the period. Finally, Kentucky Retirement Systems bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $2,807,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

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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