Illinois Tool Works (ITW) Stock Rating Lowered by BMO Capital Markets
Illinois Tool Works (NYSE:ITW) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Thursday. They currently have a $180.00 price objective on the industrial products company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 8.41% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages have also commented on ITW. Jefferies Group reiterated a “buy” rating and issued a $190.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, November 29th. Wells Fargo & Co set a $190.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research report on Monday, December 4th. Morgan Stanley increased their price objective on Illinois Tool Works from $147.00 to $151.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Zacks Investment Research lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Royal Bank of Canada increased their price objective on Illinois Tool Works from $143.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $166.13.
Illinois Tool Works (ITW) opened at $166.03 on Thursday. The company has a market capitalization of $56,922.82, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 1.98. Illinois Tool Works has a 12-month low of $120.06 and a 12-month high of $169.69.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating 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. equities research analysts predict that Illinois Tool Works will post 6.7 earnings per share for the current fiscal year.
In other news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the transaction, the insider now directly owns 18,622 shares in the company, valued at approximately $2,886,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $166.43, for a total value of $4,992,900.00. The disclosure for this sale can be found here. Insiders sold a total of 214,791 shares of company stock worth $34,665,964 over the last 90 days. 0.90% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Atlantic Trust Group LLC raised its stake 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 buying an additional 43,356 shares during the period. Parametric Portfolio Associates LLC raised its stake in Illinois Tool Works by 7.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,487,337 shares of the industrial products company’s stock worth $220,066,000 after buying an additional 103,127 shares during the period. AXA raised its stake in Illinois Tool Works by 3.5% during the 3rd quarter. AXA now owns 300,701 shares of the industrial products company’s stock worth $44,492,000 after buying an additional 10,108 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $2,001,000. Finally, Belpointe Asset Management LLC acquired a new stake in Illinois Tool Works during the 3rd quarter worth $514,000. Institutional investors and hedge funds own 74.70% of the company’s stock.
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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.
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