Illinois Tool Works (ITW) Rating Reiterated by Credit Suisse Group

Illinois Tool Works (NYSE:ITW)‘s stock had its “hold” rating restated by research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday. They presently have a $131.00 target price on the industrial products company’s stock. Credit Suisse Group’s price target points to a potential upside of 1.18% from the company’s previous close.

ITW has been the subject of a number of other research reports. Seaport Global Securities downgraded Illinois Tool Works from a “buy” rating to a “neutral” rating and cut their price target for the company from $170.00 to $132.00 in a research note on Thursday, October 25th. ValuEngine downgraded Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Wells Fargo & Co set a $145.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. Finally, Citigroup set a $148.00 price target on Illinois Tool Works and gave the company a “buy” rating in a research note on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Illinois Tool Works presently has an average rating of “Hold” and an average price target of $147.69.

ITW stock traded down $3.79 during mid-day trading on Friday, reaching $129.47. 2,326,331 shares of the company traded hands, compared to its average volume of 1,623,214. The company has a market capitalization of $44.05 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. Illinois Tool Works has a fifty-two week low of $119.38 and a fifty-two week high of $179.07.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.72 billion. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. As a group, sell-side analysts forecast that Illinois Tool Works will post 7.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional purchased a new position in Illinois Tool Works in the second quarter valued at approximately $101,000. Kaizen Advisory LLC lifted its stake in Illinois Tool Works by 151.0% in the second quarter. Kaizen Advisory LLC now owns 748 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 450 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Illinois Tool Works by 540.9% in the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 622 shares during the last quarter. FCM Investments TX purchased a new position in Illinois Tool Works in the first quarter valued at approximately $106,000. Finally, Dubuque Bank & Trust Co. lifted its stake in Illinois Tool Works by 43.5% in the third quarter. Dubuque Bank & Trust Co. now owns 890 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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