Illinois Tool Works (ITW) Stock Rating Reaffirmed by BMO Capital Markets

Illinois Tool Works (NYSE:ITW)‘s stock had its “hold” rating reiterated by research analysts at BMO Capital Markets in a report issued on Wednesday. They currently have a $170.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 6.86% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Citigroup lifted their target price on Illinois Tool Works from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating on the stock in a research note on Monday. Argus boosted their price objective on Illinois Tool Works to $200.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Seaport Global Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Illinois Tool Works in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $175.41.

How to Become a New Pot Stock Millionaire

Shares of ITW opened at $159.09 on Wednesday. The stock has a market cap of $54,442.38, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.05 and a beta of 1.24. Illinois Tool Works has a 12 month low of $132.52 and a 12 month high of $179.07. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 EPS. equities research analysts forecast that Illinois Tool Works will post 7.71 EPS for the current year.

In related news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the transaction, the insider now directly owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ITW. Atlantic Trust Group LLC increased its holdings in Illinois Tool Works by 21.6% during the 3rd quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock worth $36,045,000 after purchasing an additional 43,356 shares in the last quarter. DnB Asset Management AS increased its holdings in Illinois Tool Works by 21.3% during the 4th quarter. DnB Asset Management AS now owns 51,917 shares of the industrial products company’s stock worth $8,662,000 after purchasing an additional 9,100 shares in the last quarter. Bath Savings Trust Co increased its holdings in Illinois Tool Works by 123.9% during the 4th quarter. Bath Savings Trust Co now owns 4,105 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 2,272 shares in the last quarter. Rockland Trust Co. bought a new stake in Illinois Tool Works during the 4th quarter worth approximately $369,000. Finally, Appleton Partners Inc. MA increased its holdings in Illinois Tool Works by 19.3% during the 4th quarter. Appleton Partners Inc. MA now owns 8,743 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 1,415 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Week Herald and is the property of of Week Herald. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://weekherald.com/2018/04/20/illinois-tool-works-itw-stock-rating-reaffirmed-by-bmo-capital-markets.html.

About Illinois Tool Works

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.

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