Illinois Tool Works Inc. (ITW) Earns “Hold” Rating from Royal Bank Of Canada
Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “hold” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Wednesday. They presently have a $143.00 target price on the industrial products company’s stock.
Other research analysts have also recently issued reports about the stock. BMO Capital Markets restated a “buy” rating and issued a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Morgan Stanley restated an “equal weight” rating and issued a $140.00 price target (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Wednesday, July 12th. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $147.00 price target on shares of Illinois Tool Works in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $150.64.
Shares of Illinois Tool Works (ITW) traded up 0.11% during midday trading on Wednesday, reaching $143.00. 753,233 shares of the company’s stock were exchanged. 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 $138.96 and its 200-day moving average is $138.95. The stock has a market cap of $49.21 billion, a PE ratio of 23.14 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Illinois Tool Works will post $6.46 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. Perigon Wealth Management LLC increased its holdings in Illinois Tool Works by 225.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 9,879 shares of the industrial products company’s stock worth $1,422,000 after buying an additional 6,844 shares during the period. Intl Fcstone Inc. acquired a new position in Illinois Tool Works in the 2nd quarter worth approximately $1,576,000. Griffin Asset Management Inc. acquired a new position in Illinois Tool Works in the 2nd quarter worth approximately $6,047,000. Lord Abbett & CO. LLC increased its holdings in Illinois Tool Works by 397.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 240,850 shares of the industrial products company’s stock worth $34,502,000 after buying an additional 192,450 shares during the period. Finally, Atlantic Trust LLC acquired a new position in Illinois Tool Works in the 2nd quarter worth approximately $139,000. Institutional investors own 74.86% 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.
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