Illinois Tool Works (NYSE:ITW) Price Target Raised to $191.00

Illinois Tool Works (NYSE:ITWGet Rating) had its price objective lifted by Morgan Stanley from $182.00 to $191.00 in a research report released on Wednesday morning, Marketbeat.com reports. They currently have an underweight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Illinois Tool Works from $255.00 to $215.00 and set an overweight rating for the company in a report on Tuesday, July 12th. UBS Group downgraded shares of Illinois Tool Works from a buy rating to a neutral rating and lowered their price target for the stock from $243.00 to $185.00 in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Illinois Tool Works from $229.00 to $189.00 and set a hold rating for the company in a report on Wednesday, July 13th. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $185.00 to $180.00 in a report on Tuesday, July 12th. Finally, Stifel Nicolaus reduced their price objective on shares of Illinois Tool Works from $206.00 to $163.00 in a research note on Monday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of Hold and a consensus target price of $204.00.

Illinois Tool Works Stock Up 0.6 %

Shares of ITW opened at $210.76 on Wednesday. Illinois Tool Works has a one year low of $173.52 and a one year high of $249.81. The company has a market cap of $65.64 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.31 and a beta of 1.11. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.48 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $191.92 and a two-hundred day simple moving average of $205.34.

Illinois Tool Works (NYSE:ITWGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.22 by $0.15. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. The business had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. Research analysts forecast that Illinois Tool Works will post 9.08 EPS for the current fiscal year.

Insider Buying and Selling at Illinois Tool Works

In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total transaction of $205,340.00. Following the transaction, the executive vice president now owns 7,803 shares in the company, valued at $1,602,268.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently made changes to their positions in ITW. Cornerstone Wealth Management LLC raised its holdings in shares of Illinois Tool Works by 5.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 1,784 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 91 shares during the last quarter. AIA Group Ltd increased its stake in Illinois Tool Works by 43.9% in the 1st quarter. AIA Group Ltd now owns 3,271 shares of the industrial products company’s stock valued at $685,000 after buying an additional 998 shares during the last quarter. Veriti Management LLC increased its stake in Illinois Tool Works by 4.4% in the 1st quarter. Veriti Management LLC now owns 3,707 shares of the industrial products company’s stock valued at $776,000 after buying an additional 156 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Illinois Tool Works in the 1st quarter valued at about $1,656,000. Finally, Koshinski Asset Management Inc. increased its stake in Illinois Tool Works by 1.2% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,790 shares of the industrial products company’s stock valued at $1,003,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 79.03% of the company’s stock.

Illinois Tool Works Company Profile

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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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