Illinois Tool Works (NYSE:ITW) had its price objective hoisted by equities research analysts at Stifel Nicolaus from $176.00 to $186.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 9.08% from the stock’s previous close.
Several other equities analysts also recently commented on ITW. Citigroup reaffirmed a “buy” rating and set a $162.00 price objective on shares of Illinois Tool Works in a research note on Tuesday, September 26th. Morgan Stanley reaffirmed an “equal weight” rating and set a $147.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. JPMorgan Chase & Co. raised shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $132.00 to $140.00 in a research note on Tuesday, October 10th. Wells Fargo & Co set a $170.00 price objective on shares of Illinois Tool Works and gave the company a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $155.00 price objective (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $168.06.
Illinois Tool Works (NYSE:ITW) opened at $170.52 on Tuesday. The company has a market cap of $58,419.98, a PE ratio of 26.11, a PEG ratio of 2.35 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works has a one year low of $122.25 and a one year high of $171.52.
In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Also, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the completion of the sale, the insider now owns 18,622 shares in the company, valued at approximately $2,886,410. The disclosure for this sale can be found here. Insiders have sold 214,791 shares of company stock worth $34,665,964 in the last quarter. 0.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FCM Investments TX bought a new position in shares of Illinois Tool Works in the first quarter worth approximately $106,000. Dubuque Bank & Trust Co. lifted its stake in shares of 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 worth $107,000 after buying an additional 270 shares in the last quarter. Omnia Family Wealth LLC lifted 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 worth $107,000 after buying an additional 2 shares in the last quarter. Hudock Capital Group LLC lifted its stake in shares of Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the industrial products company’s stock worth $108,000 after buying an additional 5 shares in the last quarter. Finally, Private Vista LLC lifted its stake in shares of Illinois Tool Works by 13,697.3% in the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after buying an additional 277,508 shares in the last quarter. Institutional investors and hedge funds own 74.73% of the company’s stock.
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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.
