Illinois Tool Works (ITW) PT Set at $190.00 by Wells Fargo & Co

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.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.20. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. sell-side analysts forecast that Illinois Tool Works will post 6.7 earnings per share for the current year.

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.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://weekherald.com/2017/12/30/wells-fargo-company-analysts-give-illinois-tool-works-itw-a-190-00-price-target.html.

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.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply