Royal Bank Of Canada Increases Illinois Tool Works Inc. (ITW) Price Target to $155.00
Illinois Tool Works Inc. (NYSE:ITW) had its target price upped by analysts at Royal Bank Of Canada from $143.00 to $155.00 in a research note issued to investors on Tuesday. The firm currently has a “sector perform” rating on the industrial products company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 0.33% from the company’s current price.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $170.00 target price (up previously from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. BMO Capital Markets reissued a “buy” rating and set a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Citigroup Inc. reissued a “buy” rating and set a $162.00 target price on shares of Illinois Tool Works in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company set a $170.00 target price on shares of Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Illinois Tool Works has a consensus rating of “Hold” and an average price target of $155.40.
Illinois Tool Works (ITW) opened at 155.51 on Tuesday. The company has a market cap of $53.52 billion, a P/E ratio of 25.16 and a beta of 1.12. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $157.28. The company’s 50-day moving average is $148.07 and its 200-day moving average is $142.44.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, equities research analysts expect that Illinois Tool Works will post $6.46 EPS for the current fiscal year.
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In related news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its stake in shares of Illinois Tool Works by 71.3% in the 2nd quarter. Quantbot Technologies LP now owns 25,132 shares of the industrial products company’s stock valued at $3,600,000 after purchasing an additional 10,457 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Illinois Tool Works by 2.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 55,363 shares of the industrial products company’s stock valued at $6,635,000 after purchasing an additional 1,500 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $17,908,000. Renaissance Technologies LLC acquired a new position in shares of Illinois Tool Works in the 1st quarter valued at $55,010,000. Finally, Ken Stern & Associates lifted its stake in shares of Illinois Tool Works by 21.5% in the 3rd quarter. Ken Stern & Associates now owns 4,562 shares of the industrial products company’s stock valued at $376,000 after purchasing an additional 808 shares during the period. Hedge funds and other institutional investors own 74.73% 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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