Illinois Tool Works (NYSE:ITW)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report issued on Tuesday. They currently have a $166.00 target price on the industrial products company’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 0.18% from the stock’s previous close.
A number of other equities research analysts also recently commented on the company. Robert W. Baird restated a “hold” rating and issued a $160.00 target price on shares of Illinois Tool Works in a research report on Sunday. Wells Fargo & Company set a $190.00 target price on Illinois Tool Works and gave the company a “buy” rating in a research report on Monday. Jefferies Group restated a “buy” rating and issued a $190.00 target price on shares of Illinois Tool Works in a research report on Wednesday, November 29th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets lifted their target price on Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $162.67.
Illinois Tool Works (NYSE ITW) opened at $166.30 on Tuesday. Illinois Tool Works has a 1 year low of $120.06 and a 1 year high of $169.69. The company has a market capitalization of $56,920.00, a P/E ratio of 26.38, a P/E/G ratio of 2.48 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $1.50 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. analysts forecast that Illinois Tool Works will post 6.69 EPS for the current year.
In related news, insider John R. Hartnett sold 6,533 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the sale, the insider now owns 18,622 shares in the company, valued at approximately $2,886,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven L. Martindale sold 64,818 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders sold a total of 191,324 shares of company stock worth $30,653,014 in the last quarter. Company insiders own 0.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Omnia Family Wealth LLC raised its holdings in shares of Illinois Tool Works by 0.3% in the 2nd 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 during the period. Harding Loevner LP purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $115,000. WFG Advisors LP grew its stake in Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $130,000. Finally, Salem Investment Counselors Inc. grew its stake in 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 worth $129,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
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Illinois Tool Works Company Profile
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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