Illinois Tool Works (NYSE:ITW) had its target price boosted by investment analysts at Credit Suisse Group from $163.00 to $166.00 in a report released on Thursday. The firm currently has a “neutral” rating on the industrial products company’s stock. Credit Suisse Group’s target price would suggest a potential downside of 5.01% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Jefferies Group reiterated a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a report on Wednesday, November 29th. Argus reiterated a “buy” rating and issued a $180.00 price objective (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. Wells Fargo & Co set a $170.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a report on Monday, October 16th. They noted that the move was a valuation call. Citigroup reiterated a “buy” rating and issued a $171.00 price objective (up from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. 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 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $177.18.
Shares of Illinois Tool Works (NYSE:ITW) traded up $1.00 during trading hours on Thursday, hitting $174.76. The stock had a trading volume of 1,437,361 shares, compared to its average volume of 1,270,000. Illinois Tool Works has a 1 year low of $124.84 and a 1 year high of $177.65. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. The company has a market capitalization of $59,870.00, a P/E ratio of 36.03, a PEG ratio of 2.36 and a beta of 1.18.
In other Illinois Tool Works news, insider Roland M. Martel sold 64,818 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 26,222 shares of the company’s stock, valued at $4,389,825.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. 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 made changes to their positions in ITW. Omnia Family Wealth LLC boosted its position in 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 purchasing an additional 2 shares during the last quarter. Harding Loevner LP purchased a new position in shares of Illinois Tool Works during the 2nd quarter valued at about $115,000. WFG Advisors LP lifted its position in shares of Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after buying an additional 161 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after buying an additional 17 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at about $130,000. 74.69% of the stock is currently 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.
