Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “equal weight” rating reissued by Morgan Stanley in a report released on Tuesday. They presently have a $136.00 price target on the industrial products company’s stock, down from their previous price target of $140.00. Morgan Stanley’s price target points to a potential downside of 3.99% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada boosted their price target on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a report on Tuesday. Jefferies Group LLC reissued a “buy” rating and set a $170.00 price target (up previously from $155.00) on shares of Illinois Tool Works in a report on Tuesday. Citigroup Inc. boosted their price target on shares of Illinois Tool Works from $143.00 to $161.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Barclays PLC boosted their price target on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $149.69.

Illinois Tool Works (ITW) traded down 0.23% during mid-day trading on Tuesday, hitting $141.65. 2,068,700 shares of the stock traded hands. The firm has a market cap of $48.93 billion, a price-to-earnings ratio of 23.79 and a beta of 1.12. The stock has a 50-day moving average of $145.59 and a 200 day moving average of $135.95. Illinois Tool Works has a 1-year low of $111.50 and a 1-year high of $150.29.

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

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In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the company’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 directly owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Hartnett sold 13,889 shares of the company’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 directly owns 25,978 shares of the company’s stock, valued at $3,617,956.06. The disclosure for this sale can be found here. Insiders sold a total of 215,850 shares of company stock valued at $30,245,971 over the last three months. 0.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of ITW. Quadrature Capital Ltd acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $2,027,000. Perigon Wealth Management LLC increased its stake 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 last quarter. HighPoint Advisor Group LLC increased its stake 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 last quarter. Teachers Advisors LLC increased its stake 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 last quarter. Finally, Kentucky Retirement Systems acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $2,807,000. 75.51% of the stock is owned by institutional investors.

About Illinois Tool Works

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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