Illinois Tool Works (ITW) PT Raised to $200.00

Illinois Tool Works (NYSE:ITW) had its price target raised by research analysts at Wells Fargo & Co from $190.00 to $200.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co’s price objective points to a potential upside of 11.81% from the company’s previous close.

A number of other analysts also recently weighed in on ITW. Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a report on Monday, October 2nd. Citigroup reaffirmed a “buy” rating and set a $171.00 price target (up previously from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $132.00 to $140.00 in a report on Tuesday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 price target (up previously from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. Finally, Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $177.18.

Shares of Illinois Tool Works (NYSE ITW) traded up $4.12 during trading on Thursday, hitting $178.88. 1,821,811 shares of the stock were exchanged, compared to its average volume of 1,260,000. Illinois Tool Works has a 12 month low of $125.96 and a 12 month high of $178.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. The company has a market cap of $61,280.00, a P/E ratio of 36.88, a PEG ratio of 2.25 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. equities analysts predict that Illinois Tool Works will post 7.7 earnings per share for the current year.

In related news, insider Harold B. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $166.43, for a total value of $4,992,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roland M. Martel sold 64,818 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the completion of the transaction, the insider now directly owns 26,222 shares of the company’s stock, valued at approximately $4,389,825.02. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2 shares during the period. Hudock Capital Group LLC increased its position in Illinois Tool Works by 0.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,059 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 5 shares during the period. Laurel Wealth Advisors Inc. increased its position in Illinois Tool Works by 0.3% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,638 shares of the industrial products company’s stock valued at $521,000 after acquiring an additional 10 shares during the period. Rowland & Co. Investment Counsel ADV increased its position in Illinois Tool Works by 0.4% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 3,607 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 13 shares during the period. Finally, Salem Investment Counselors Inc. increased its position in Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 74.69% of the company’s stock.

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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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