Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “hold” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued on Wednesday. They currently have a $147.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 4.98% from the company’s previous close.

Several other analysts have also commented on ITW. Barclays PLC raised their price objective on shares of Illinois Tool Works from $123.00 to $130.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. BMO Capital Markets restated a “buy” rating and issued a $145.00 price objective on shares of Illinois Tool Works in a report on Thursday, April 20th. Royal Bank Of Canada raised their price objective on shares of Illinois Tool Works from $125.00 to $141.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 25th. Citigroup Inc. raised their price objective on shares of Illinois Tool Works from $143.00 to $161.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, Argus raised their price objective on shares of Illinois Tool Works from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $152.67.

Illinois Tool Works (NYSE:ITW) traded up 0.68% on Wednesday, reaching $140.03. The company had a trading volume of 1,083,845 shares. Illinois Tool Works has a one year low of $111.50 and a one year high of $150.29. The company’s 50 day moving average is $142.98 and its 200-day moving average is $137.72. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 22.66 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the business posted $1.46 earnings per share. Illinois Tool Works’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Illinois Tool Works will post $6.46 earnings per share for the current fiscal year.

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In related news, insider John R. Hartnett sold 11,750 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now owns 23,839 shares of the company’s stock, valued at $3,455,701.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The disclosure for this sale can be found here. Insiders have sold 100,664 shares of company stock valued at $14,329,625 over the last quarter. Company insiders own 0.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of 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 period. Janus Henderson Group PLC increased its stake in shares of Illinois Tool Works by 2,939.8% in the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock valued at $537,498,000 after buying an additional 3,628,722 shares during the period. Koch Industries Inc. increased its stake in shares of Illinois Tool Works by 31,484.3% in the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock valued at $763,000 after buying an additional 765,699 shares during the period. HPM Partners LLC purchased a new stake in shares of Illinois Tool Works during the first quarter valued at $95,987,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Illinois Tool Works by 100.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock valued at $201,869,000 after buying an additional 707,287 shares during the period. 74.77% 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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