Illinois Tool Works (NYSE:ITW) PT Lowered to $229.00

Illinois Tool Works (NYSE:ITW) had its price objective decreased by Barclays from $230.00 to $229.00 in a report released on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target indicates a potential downside of 5.49% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating for the company in a report on Wednesday. Citigroup raised their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price target on Illinois Tool Works from $258.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Bank of America downgraded Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.78.

Illinois Tool Works Stock Up 0.0 %

Shares of Illinois Tool Works stock traded up $0.03 during trading on Thursday, reaching $242.30. The company’s stock had a trading volume of 655,317 shares, compared to its average volume of 1,253,531. The company has a 50-day simple moving average of $259.40 and a two-hundred day simple moving average of $251.72. Illinois Tool Works has a 1-year low of $217.06 and a 1-year high of $271.15. The company has a market cap of $72.38 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 3.46 and a beta of 1.14. The company has a quick ratio of 0.97, a current ratio of 1.32 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company earned $2.33 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts forecast that Illinois Tool Works will post 10.5 earnings per share for the current year.

Insider Activity at Illinois Tool Works

In related news, CFO Michael M. Larsen sold 37,167 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the sale, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Ernest Scott Santi sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael M. Larsen sold 37,167 shares of Illinois Tool Works stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the completion of the sale, the chief financial officer now directly owns 46,404 shares in the company, valued at approximately $12,299,844.24. The disclosure for this sale can be found here. Insiders sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

Several institutional investors have recently modified their holdings of ITW. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Illinois Tool Works by 1.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after buying an additional 84 shares during the last quarter. Rockline Wealth Management LLC acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $4,180,000. Wesbanco Bank Inc. increased its position in shares of Illinois Tool Works by 23.4% during the third quarter. Wesbanco Bank Inc. now owns 6,085 shares of the industrial products company’s stock worth $1,401,000 after purchasing an additional 1,152 shares in the last quarter. Ziegler Capital Management LLC acquired a new position in Illinois Tool Works in the 4th quarter valued at $224,000. Finally, Tyche Wealth Partners LLC purchased a new position in Illinois Tool Works in the 4th quarter valued at $2,972,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.