Seaport Global Securities Reaffirms Buy Rating for Illinois Tool Works (ITW)

Illinois Tool Works (NYSE:ITW)‘s stock had its “buy” rating reissued by Seaport Global Securities in a research note issued to investors on Thursday. They presently have a $200.00 price objective on the industrial products company’s stock. Seaport Global Securities’ price target indicates a potential upside of 11.81% from the company’s current price. Seaport Global Securities also issued estimates for Illinois Tool Works’ Q1 2018 earnings at $1.76 EPS, Q2 2018 earnings at $1.93 EPS, Q3 2018 earnings at $2.00 EPS, Q4 2018 earnings at $1.95 EPS, FY2018 earnings at $7.64 EPS, Q2 2019 earnings at $2.11 EPS, Q3 2019 earnings at $2.24 EPS, Q4 2019 earnings at $2.18 EPS and FY2019 earnings at $8.45 EPS.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 target price (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. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BMO Capital Markets raised their target price on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a report on Wednesday, December 6th. Argus restated a “buy” rating and issued a $180.00 target price (up previously from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Finally, Bank of America started coverage on Illinois Tool Works in a report on Monday, December 11th. They issued a “buy” rating and a $190.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $177.18.

Illinois Tool Works (NYSE ITW) traded up $4.12 during mid-day trading on Thursday, hitting $178.88. The stock had a trading volume of 1,821,811 shares, 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 quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $61,280.00, a price-to-earnings ratio of 36.88, a PEG ratio of 2.25 and a beta of 1.18.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the company earned $1.39 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. research analysts expect 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 firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roland M. Martel sold 64,818 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $167.41, for a total value of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares of the company’s stock, valued at $4,389,825.02. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Highland Private Wealth Management purchased a new stake in Illinois Tool Works in the fourth quarter worth $204,000. Advisor Partners LLC increased its position in Illinois Tool Works by 4.5% in the fourth quarter. Advisor Partners LLC now owns 8,888 shares of the industrial products company’s stock worth $1,533,000 after buying an additional 384 shares during the last quarter. Westwood Management Corp IL increased its position in Illinois Tool Works by 5.2% in the fourth quarter. Westwood Management Corp IL now owns 24,200 shares of the industrial products company’s stock worth $4,038,000 after buying an additional 1,200 shares during the last quarter. Legacy Advisors LLC increased its position in Illinois Tool Works by 988.9% in the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after buying an additional 623 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at $222,000. 74.69% of the stock is owned by institutional investors and hedge funds.

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About Illinois Tool Works

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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