Illinois Tool Works (NYSE:ITW) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
ITW has been the subject of a number of other reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research note on Thursday, January 4th. Credit Suisse Group raised their target price on shares of Illinois Tool Works from $163.00 to $166.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Jefferies Group reissued a “buy” rating on shares of Illinois Tool Works in a report on Thursday, January 25th. BMO Capital Markets raised their target price on shares of Illinois Tool Works from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus raised their target price on shares of Illinois Tool Works from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $175.41.
NYSE:ITW traded down $6.95 during mid-day trading on Tuesday, reaching $149.65. The stock had a trading volume of 2,220,608 shares, compared to its average volume of 1,466,465. The company has a market capitalization of $54,063.27, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Illinois Tool Works has a 1-year low of $133.90 and a 1-year high of $179.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. equities research analysts forecast that Illinois Tool Works will post 7.71 EPS for the current fiscal year.
In other news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the sale, the insider now owns 42,497 shares of the company’s stock, valued at $7,564,466. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.82% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $84,620,000. UBS Asset Management Americas Inc. raised its holdings in Illinois Tool Works by 35.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,247,440 shares of the industrial products company’s stock worth $208,135,000 after purchasing an additional 329,115 shares in the last quarter. Telemus Capital LLC raised its holdings in Illinois Tool Works by 14,337.9% during the fourth quarter. Telemus Capital LLC now owns 296,555 shares of the industrial products company’s stock worth $49,480,000 after purchasing an additional 294,501 shares in the last quarter. Schroder Investment Management Group raised its holdings in Illinois Tool Works by 50.1% during the fourth quarter. Schroder Investment Management Group now owns 500,745 shares of the industrial products company’s stock worth $83,550,000 after purchasing an additional 167,112 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Illinois Tool Works by 223.4% during the fourth quarter. Teacher Retirement System of Texas now owns 174,840 shares of the industrial products company’s stock worth $29,172,000 after purchasing an additional 120,774 shares in the last quarter. 77.58% of the stock is currently owned by institutional investors.
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Illinois Tool Works Company Profile
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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