Illinois Tool Works Inc. (ITW) Given Average Rating of “Hold” by Analysts

Illinois Tool Works Inc. (NYSE:ITW) has received a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $136.83.

A number of research analysts recently commented on ITW shares. Morgan Stanley cut Illinois Tool Works from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $131.00 to $115.00 in a research report on Tuesday, December 18th. Seaport Global Securities lowered Illinois Tool Works from a “buy” rating to a “neutral” rating and dropped their price target for the company from $170.00 to $132.00 in a research note on Thursday, October 25th. Credit Suisse Group restated a “hold” rating and set a $131.00 price objective on shares of Illinois Tool Works in a report on Friday, December 7th. Wells Fargo & Co set a $145.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a report on Thursday, October 25th. Finally, Citigroup set a $148.00 price objective on Illinois Tool Works and gave the stock a “buy” rating in a research report on Thursday, October 25th.

Shares of ITW stock traded up $0.43 on Wednesday, reaching $136.15. The company had a trading volume of 249,805 shares, compared to its average volume of 1,567,637. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $45.03 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.21 and a beta of 1.19. Illinois Tool Works has a 12 month low of $117.75 and a 12 month high of $171.83.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Friday, February 1st. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.82 by $0.01. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the prior year, the firm posted $1.70 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Illinois Tool Works will post 7.97 earnings per share for the current year.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 58,736 shares of the business’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total value of $7,806,601.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sundaram Nagarajan sold 18,651 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $137.75, for a total transaction of $2,569,175.25. Following the completion of the transaction, the insider now owns 44,954 shares of the company’s stock, valued at approximately $6,192,413.50. The disclosure for this sale can be found here. Insiders sold a total of 200,772 shares of company stock worth $26,864,670 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ITW. Garrison Point Advisors LLC acquired a new position in shares of Illinois Tool Works during the fourth quarter worth about $765,000. Clearstead Advisors LLC grew its position in Illinois Tool Works by 12.7% during the fourth quarter. Clearstead Advisors LLC now owns 7,336 shares of the industrial products company’s stock worth $929,000 after buying an additional 827 shares during the period. Ffcm LLC grew its position in Illinois Tool Works by 7.3% during the fourth quarter. Ffcm LLC now owns 15,368 shares of the industrial products company’s stock worth $1,947,000 after buying an additional 1,042 shares during the period. GAM Holding AG purchased a new stake in shares of Illinois Tool Works in the fourth quarter valued at about $704,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Illinois Tool Works by 27.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,820,157 shares of the industrial products company’s stock valued at $1,117,426,000 after purchasing an additional 1,907,471 shares in the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

About Illinois Tool Works

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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