Illinois Tool Works (NYSE:ITW) Price Target Raised to $236.00 at Wells Fargo & Company

Illinois Tool Works (NYSE:ITW) had its price objective hoisted by Wells Fargo & Company from $230.00 to $236.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

ITW has been the subject of several other reports. Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a hold rating for the company in a research report on Wednesday. StockNews.com raised shares of Illinois Tool Works from a hold rating to a buy rating in a report on Saturday, July 20th. JPMorgan Chase & Co. reduced their target price on Illinois Tool Works from $275.00 to $267.00 and set an overweight rating on the stock in a research note on Thursday, July 25th. Barclays dropped their price target on Illinois Tool Works from $229.00 to $217.00 and set an underweight rating for the company in a research note on Tuesday, June 4th. Finally, Citigroup increased their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the company a neutral rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works presently has a consensus rating of Hold and an average target price of $250.75.

Illinois Tool Works Stock Up 0.7 %

ITW opened at $243.85 on Wednesday. The firm has a market capitalization of $72.76 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. Illinois Tool Works has a one year low of $217.50 and a one year high of $271.15. The company has a fifty day moving average price of $240.94 and a 200-day moving average price of $251.04. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the business earned $2.41 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. Equities research analysts expect that Illinois Tool Works will post 10.25 earnings per share for the current fiscal year.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITW. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Illinois Tool Works by 1.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock valued at $1,590,000 after acquiring an additional 84 shares in the last quarter. PEAK6 Investments LLC boosted its stake in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Illinois Tool Works during the first quarter valued at about $1,147,000. Norden Group LLC raised its stake in Illinois Tool Works by 1,889.1% in the first quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after buying an additional 25,144 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Illinois Tool Works by 6.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock worth $55,821,000 after buying an additional 12,065 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.