Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “hold” rating reiterated by stock analysts at Stifel Nicolaus in a report released on Wednesday. They currently have a $147.00 price target on the industrial products company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 7.94% from the company’s previous close.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a research note on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) raised shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price target for the stock from $131.00 to $155.00 in a research note on Thursday, June 1st. BidaskClub cut shares of Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price target (up from $140.00) on shares of Illinois Tool Works in a research note on Saturday, April 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Illinois Tool Works presently has a consensus rating of “Hold” and an average price target of $151.08.
Shares of Illinois Tool Works (NYSE:ITW) opened at 136.19 on Wednesday. Illinois Tool Works has a 52-week low of $111.50 and a 52-week high of $150.29. The firm’s 50-day moving average is $142.70 and its 200 day moving average is $137.72. The stock has a market capitalization of $46.87 billion, a price-to-earnings ratio of 22.04 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the company posted $1.46 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts expect that Illinois Tool Works will post $6.46 EPS for the current year.
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In related news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $144.96, for a total transaction of $1,703,280.00. Following the completion of the sale, the insider now owns 23,839 shares in the company, valued at approximately $3,455,701.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the sale, the insider now owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The disclosure for this sale can be found here. Insiders have sold a total of 100,664 shares of company stock valued at $14,329,625 in the last quarter. 0.90% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. FCM Investments TX bought a new stake in shares of Illinois Tool Works during the first quarter worth $106,000. Omnia Family Wealth LLC raised its stake 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 valued at $107,000 after buying an additional 2 shares in the last quarter. Private Vista LLC raised its stake in 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 valued at $108,000 after buying an additional 277,508 shares in the last quarter. MCF Advisors LLC raised its stake in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. Finally, Harding Loevner LP acquired a new stake in Illinois Tool Works during the second quarter valued at approximately $115,000. Institutional investors own 74.77% of the company’s stock.
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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