Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a note issued to investors on Tuesday. They presently have a $170.00 price objective on the industrial products company’s stock, up from their previous price objective of $155.00. Jefferies Group LLC’s price target would indicate a potential upside of 20.01% from the company’s current price.

ITW has been the subject of several other research reports. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded Illinois Tool Works from a “sell” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $155.00 in a report on Thursday, June 1st. BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Stifel Nicolaus downgraded Illinois Tool Works from a “buy” rating to a “hold” rating and boosted their price objective for the company from $135.00 to $140.00 in a report on Monday, March 27th. Finally, Deutsche Bank AG restated a “buy” rating and set a $160.00 price objective (up previously from $140.00) on shares of Illinois Tool Works in a report on Saturday, April 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $150.00.

Illinois Tool Works (ITW) traded down 0.23% during trading on Tuesday, reaching $141.65. The company’s stock had a trading volume of 2,063,988 shares. The stock has a market cap of $48.93 billion, a PE ratio of 23.79 and a beta of 1.12. Illinois Tool Works has a 12 month low of $111.50 and a 12 month high of $150.29. The company’s 50-day moving average is $145.59 and its 200-day moving average is $135.95.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. Equities analysts expect that Illinois Tool Works will post $6.38 EPS for the current fiscal year.

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In other Illinois Tool Works news, insider John R. Hartnett sold 13,889 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $139.27, for a total value of $1,934,321.03. Following the transaction, the insider now owns 25,978 shares of the company’s stock, valued at $3,617,956.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the transaction, the insider now directly owns 55,878 shares in the company, valued at approximately $8,046,432. The disclosure for this sale can be found here. Insiders have sold 215,850 shares of company stock valued at $30,245,971 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Personal Capital Advisors Corp boosted its position in Illinois Tool Works by 15.7% in the second quarter. Personal Capital Advisors Corp now owns 155,566 shares of the industrial products company’s stock valued at $22,285,000 after buying an additional 21,122 shares in the last quarter. Boston Advisors LLC boosted its position in Illinois Tool Works by 3.3% in the second quarter. Boston Advisors LLC now owns 3,140 shares of the industrial products company’s stock valued at $450,000 after buying an additional 100 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in Illinois Tool Works by 5.9% in the second quarter. Carroll Financial Associates Inc. now owns 2,782 shares of the industrial products company’s stock valued at $398,000 after buying an additional 155 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Illinois Tool Works by 9.2% in the second quarter. Russell Investments Group Ltd. now owns 236,750 shares of the industrial products company’s stock valued at $33,916,000 after buying an additional 20,026 shares in the last quarter. Finally, Berkshire Asset Management LLC PA boosted its position in Illinois Tool Works by 1.3% in the second quarter. Berkshire Asset Management LLC PA now owns 12,726 shares of the industrial products company’s stock valued at $1,823,000 after buying an additional 160 shares in the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

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)

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