Illinois Tool Works (NYSE:ITW – Get Rating) had its price target dropped by equities research analysts at Wells Fargo & Company from $207.00 to $185.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.10% from the company’s current price.
ITW has been the subject of a number of other reports. Credit Suisse Group lowered their price objective on shares of Illinois Tool Works from $267.00 to $261.00 in a research note on Wednesday, May 4th. Barclays lowered their price objective on shares of Illinois Tool Works from $192.00 to $180.00 and set an “underweight” rating for the company in a research note on Tuesday, May 24th. Morgan Stanley decreased their price objective on shares of Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating for the company in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. Finally, UBS Group cut their price target on shares of Illinois Tool Works to $243.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus price target of $227.09.
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NYSE ITW opened at $182.99 on Wednesday. The company’s 50-day moving average price is $199.80 and its 200-day moving average price is $215.46. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. The stock has a market cap of $56.99 billion, a PE ratio of 21.50, a PEG ratio of 2.05 and a beta of 1.07. Illinois Tool Works has a 12 month low of $177.33 and a 12 month high of $249.81.
Illinois Tool Works (NYSE:ITW – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The industrial products company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.04. The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.11 earnings per share. As a group, sell-side analysts forecast that Illinois Tool Works will post 9.16 earnings per share for the current year.
In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total transaction of $205,340.00. Following the sale, the executive vice president now owns 7,803 shares of the company’s stock, valued at approximately $1,602,268.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ITW. Norges Bank acquired a new stake in Illinois Tool Works in the 4th quarter valued at $744,840,000. BlackRock Inc. grew its stake in Illinois Tool Works by 6.6% in the 4th quarter. BlackRock Inc. now owns 21,540,015 shares of the industrial products company’s stock valued at $5,316,074,000 after acquiring an additional 1,340,520 shares during the period. Wellington Management Group LLP grew its stake in Illinois Tool Works by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 5,547,647 shares of the industrial products company’s stock valued at $1,161,677,000 after acquiring an additional 1,189,751 shares during the period. Renaissance Technologies LLC acquired a new stake in Illinois Tool Works in the 1st quarter valued at $91,466,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Illinois Tool Works by 5.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,902,872 shares of the industrial products company’s stock valued at $1,236,063,000 after acquiring an additional 326,412 shares during the period. 79.03% of the stock is currently owned by hedge funds and other institutional investors.
Illinois Tool Works Company Profile (Get Rating)
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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