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

Illinois Tool Works (NYSE:ITWGet Rating) had its target price lifted by Morgan Stanley from $182.00 to $191.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. Morgan Stanley currently has an underweight rating on the industrial products company’s stock.

ITW has been the topic of several other reports. Credit Suisse Group raised their price target on Illinois Tool Works from $225.00 to $229.00 and gave the stock an outperform rating in a research report on Wednesday. Jefferies Financial Group dropped their price objective on Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $206.00 to $163.00 in a research note on Monday, July 18th. UBS Group downgraded Illinois Tool Works from a buy rating to a neutral rating and dropped their price objective for the stock from $243.00 to $185.00 in a research note on Friday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $255.00 to $215.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $204.00.

Illinois Tool Works Stock Up 0.6 %

NYSE:ITW opened at $210.76 on Wednesday. Illinois Tool Works has a 12-month low of $173.52 and a 12-month high of $249.81. The company has a quick ratio of 1.24, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The firm has a market capitalization 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 stock’s fifty day simple moving average is $191.92 and its 200-day simple moving average is $205.34.

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

Insider Activity

In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total value of $205,340.00. Following the completion of the transaction, the executive vice president now owns 7,803 shares in the company, valued at approximately $1,602,268.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Illinois Tool Works

A number of hedge funds and other institutional investors have recently bought and sold shares of ITW. Allspring Global Investments Holdings LLC bought a new position in Illinois Tool Works during the fourth quarter worth about $10,704,000. CWM LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $2,746,000. Centaurus Financial Inc. boosted its holdings in shares of Illinois Tool Works by 6.1% during the fourth quarter. Centaurus Financial Inc. now owns 1,579 shares of the industrial products company’s stock worth $390,000 after acquiring an additional 91 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in shares of Illinois Tool Works by 6.0% during the fourth quarter. Capital Investment Advisory Services LLC now owns 1,707 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 97 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Illinois Tool Works by 4.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 97,562 shares of the industrial products company’s stock worth $24,078,000 after acquiring an additional 4,542 shares during the period. Institutional investors own 79.03% of the company’s stock.

About Illinois Tool Works

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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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