Illinois Tool Works Inc. (ITW) Given Consensus Recommendation of “Hold” by Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $175.33.

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Thursday. Seaport Global Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Illinois Tool Works in a research report on Thursday. Argus increased their price objective on shares of Illinois Tool Works to $200.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $147.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. Finally, BMO Capital Markets increased their price objective on shares of Illinois Tool Works to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 6th.

In other news, insider Harold B. Smith sold 30,000 shares of the company’s stock in a transaction 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 through the SEC website. Also, insider Roland M. Martel sold 64,818 shares of the company’s stock in a transaction 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 owns 26,222 shares of the company’s stock, valued at $4,389,825.02. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. Omnia Family Wealth LLC boosted its stake in shares of Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the period. Legacy Advisors LLC boosted its stake in shares of Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 623 shares during the period. Harding Loevner LP purchased a new position in shares of Illinois Tool Works in the second quarter valued at $115,000. WFG Advisors LP boosted its stake in shares of Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in shares of Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 74.69% of the company’s stock.

Shares of Illinois Tool Works (NYSE:ITW) traded up $4.12 during mid-day trading on Friday, reaching $178.88. 1,850,000 shares of the company traded hands, compared to its average volume of 1,260,000. Illinois Tool Works has a 1 year low of $125.96 and a 1 year high of $178.90. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $61,280.00, a price-to-earnings ratio of 36.88, a price-to-earnings-growth 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 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 firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the business posted $1.39 earnings per share. Illinois Tool Works’s revenue for the quarter was up 6.8% compared to the same quarter last year. sell-side analysts anticipate that Illinois Tool Works will post 7.7 earnings per share for the current fiscal year.

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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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