Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Rating of “Hold” by Brokerages

Illinois Tool Works Inc. (NYSE:ITW) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $250.75.

A number of research firms recently commented on ITW. Barclays decreased their target price on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Truist Financial decreased their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st.

Insider Buying and Selling

In other news, Director David Byron Smith, Jr. purchased 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the transaction, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by company insiders.

Institutional Trading of Illinois Tool Works

Several large investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management lifted its stake in shares of Illinois Tool Works by 1.7% in the 4th quarter. Ritholtz Wealth Management now owns 3,352 shares of the industrial products company’s stock valued at $878,000 after purchasing an additional 55 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Illinois Tool Works by 16.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,063 shares of the industrial products company’s stock valued at $523,000 after purchasing an additional 293 shares during the last quarter. PFG Advisors lifted its stake in Illinois Tool Works by 0.7% during the 4th quarter. PFG Advisors now owns 6,655 shares of the industrial products company’s stock worth $1,743,000 after acquiring an additional 46 shares in the last quarter. BLB&B Advisors LLC lifted its stake in Illinois Tool Works by 7.5% during the 4th quarter. BLB&B Advisors LLC now owns 1,757 shares of the industrial products company’s stock worth $460,000 after acquiring an additional 122 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in Illinois Tool Works by 139.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 5,453 shares of the industrial products company’s stock worth $1,428,000 after acquiring an additional 3,174 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 0.7 %

Shares of NYSE ITW opened at $243.85 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $72.76 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. The stock’s fifty day simple moving average is $240.94 and its two-hundred day simple moving average is $251.05. Illinois Tool Works has a 12-month low of $217.50 and a 12-month high of $271.15.

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

About Illinois Tool Works

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.