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.
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.
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.
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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.
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