Illinois Tool Works (NYSE:ITW) has been given a $190.00 price target by Wells Fargo & Co in a note issued to investors on Monday, December 4th. The firm presently has a “buy” rating on the industrial products company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 13.87% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Argus restated a “buy” rating and set a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a research report on Tuesday, October 24th. Citigroup reissued a “buy” rating and issued a $171.00 target price (up from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th. Morgan Stanley boosted their target price on Illinois Tool Works from $147.00 to $151.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. BidaskClub cut Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $155.00 price target (up previously from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $164.38.
Shares of Illinois Tool Works (NYSE ITW) traded up $0.14 during trading on Monday, reaching $166.85. The company’s stock had a trading volume of 724,256 shares, compared to its average volume of 1,208,448. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. The stock has a market cap of $57,114.68, a PE ratio of 25.55, a P/E/G ratio of 2.47 and a beta of 1.18. Illinois Tool Works has a 1-year low of $120.06 and a 1-year high of $169.69.
In other Illinois Tool Works news, VP Norman D. Jr. Finch acquired 4,986 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average price of $156.34 per share, with a total value of $779,511.24. Following the completion of the purchase, the vice president now directly owns 4,371 shares in the company, valued at approximately $683,362.14. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the transaction, the insider now directly owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,324 shares of company stock valued at $35,645,914. Corporate insiders own 0.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ITW. Omnia Family Wealth LLC raised its position in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the period. Harding Loevner LP purchased a new stake in Illinois Tool Works during the second quarter valued at approximately $115,000. WFG Advisors LP raised its position in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Illinois Tool Works during the third quarter valued at approximately $130,000. Finally, Salem Investment Counselors Inc. raised its position in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. 74.70% of the stock is owned by institutional investors.
About Illinois Tool Works
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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