Illinois Tool Works (NYSE:ITW)'s stock had its "hold" rating restated by research analysts at Robert W. Baird in a research report issued on Tuesday, AnalystRatings.com reports.
A number of other research analysts have also recently commented on ITW. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $96.00 to $206.00 and gave the stock a "hold" rating in a report on Monday, February 8th. BMO Capital Markets boosted their price target on shares of Illinois Tool Works from $205.00 to $225.00 in a research note on Monday, October 26th. UBS Group upgraded Illinois Tool Works from a "neutral" rating to a "buy" rating and raised their price objective for the company from $211.00 to $232.00 in a research report on Monday, January 4th. The Goldman Sachs Group upgraded Illinois Tool Works from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $195.00 to $217.00 in a research report on Tuesday, January 19th. Finally, Jefferies Financial Group increased their price target on Illinois Tool Works from $220.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, January 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of "Hold" and an average target price of $203.65.
ITW opened at $201.02 on Tuesday. The company has a 50 day simple moving average of $202.33 and a two-hundred day simple moving average of $201.52. The company has a debt-to-equity ratio of 2.81, a current ratio of 2.37 and a quick ratio of 1.92. The firm has a market cap of $63.66 billion, a P/E ratio of 30.46, a PEG ratio of 3.88 and a beta of 1.07. Illinois Tool Works has a 1-year low of $115.94 and a 1-year high of $224.69.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Thursday, February 4th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.79 by $0.23. Illinois Tool Works had a return on equity of 80.95% and a net margin of 16.77%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $1.87 EPS. Illinois Tool Works's revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts anticipate that Illinois Tool Works will post 6.42 earnings per share for the current year.
In other Illinois Tool Works news, VP Norman D. Jr. Finch sold 7,232 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $203.00, for a total value of $1,468,096.00. Also, CEO Ernest Scott Santi sold 1,231 shares of Illinois Tool Works stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $205.37, for a total value of $252,810.47. Following the sale, the chief executive officer now owns 295,172 shares of the company's stock, valued at $60,619,473.64. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of Illinois Tool Works by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,578,570 shares of the industrial products company's stock valued at $1,545,120,000 after acquiring an additional 214,462 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of Illinois Tool Works by 10.3% during the 4th quarter. Flossbach Von Storch AG now owns 2,192,565 shares of the industrial products company's stock worth $447,020,000 after buying an additional 204,018 shares in the last quarter. Morgan Stanley grew its position in shares of Illinois Tool Works by 21.1% during the 3rd quarter. Morgan Stanley now owns 1,540,479 shares of the industrial products company's stock worth $297,636,000 after buying an additional 268,059 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Illinois Tool Works by 4.5% during the third quarter. UBS Asset Management Americas Inc. now owns 1,478,863 shares of the industrial products company's stock valued at $285,731,000 after buying an additional 63,476 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Illinois Tool Works by 13.5% in the fourth quarter. Nuveen Asset Management LLC now owns 1,473,259 shares of the industrial products company's stock worth $300,368,000 after acquiring an additional 174,763 shares during the period. 77.44% of the stock is owned by institutional investors.
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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