Argus Raises Illinois Tool Works (ITW) Price Target to $200.00

Illinois Tool Works (NYSE:ITW) had its price objective raised by research analysts at Argus to $200.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Argus’ target price suggests a potential upside of 11.81% from the company’s current price.

Several other equities research analysts have also recently issued reports on ITW. Seaport Global Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Illinois Tool Works in a research note on Thursday. Citigroup lifted their target price on shares of Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus boosted their price target on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, BMO Capital Markets boosted their price target on shares of Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $177.18.

Shares of Illinois Tool Works (NYSE:ITW) traded up $4.07 on Thursday, reaching $178.88. 1,850,000 shares of the company’s stock traded hands, compared to its average volume of 1,260,000. Illinois Tool Works has a 52 week low of $125.96 and a 52 week 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 firm has a market cap of $61,280.00, a PE ratio of 36.88, a PEG ratio of 2.25 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. sell-side analysts predict that Illinois Tool Works will post 7.7 EPS for the current year.

In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $166.43, for a total transaction of $4,992,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roland M. Martel sold 64,818 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the sale, the insider now owns 26,222 shares in the company, valued at $4,389,825.02. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently modified their holdings of the business. Legacy Advisors LLC increased its stake in Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 623 shares during the period. Omnia Family Wealth LLC increased its stake in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Harding Loevner LP purchased a new stake in Illinois Tool Works during the second quarter worth about $115,000. WFG Advisors LP increased its stake in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in Illinois Tool Works during the third quarter worth about $130,000. 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.

The Fly

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)



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