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.
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.
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.
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