Wells Fargo & Company Analysts Give Illinois Tool Works (ITW) a $190.00 Price Target

Wells Fargo & Company set a $190.00 price target on Illinois Tool Works (NYSE:ITW) in a research note published on Monday. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on ITW. Jefferies Group reissued a buy rating and issued a $190.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, November 29th. BMO Capital Markets increased their price objective on Illinois Tool Works from $160.00 to $165.00 and gave the stock an outperform rating in a research note on Tuesday, October 24th. Morgan Stanley reissued an equal weight rating and issued a $147.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Stifel Nicolaus dropped their target price on Illinois Tool Works from $162.00 to $158.00 and set a hold rating on the stock in a research report on Tuesday, October 24th. Finally, Citigroup reaffirmed a buy rating and set a $162.00 target price on shares of Illinois Tool Works in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Illinois Tool Works currently has an average rating of Hold and a consensus price target of $162.67.

Illinois Tool Works (NYSE ITW) opened at $166.30 on Monday. Illinois Tool Works has a 52 week low of $120.06 and a 52 week high of $169.69. The stock has a market capitalization of $56,535.69, a P/E ratio of 26.19, a P/E/G ratio of 2.47 and a beta of 1.18. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. Illinois Tool Works’s revenue was up 3.4% compared to the same quarter last year. analysts expect that Illinois Tool Works will post 6.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.88%. Illinois Tool Works’s payout ratio is 47.78%.

In other news, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total value of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares of the company’s stock, valued at approximately $14,984,608.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juan Valls sold 48,622 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $156.73, for a total value of $7,620,526.06. Following the completion of the sale, the executive vice president now directly owns 71,101 shares of the company’s stock, valued at approximately $11,143,659.73. The disclosure for this sale can be found here. Insiders sold a total of 191,324 shares of company stock valued at $30,653,014 in the last three months. Insiders own 0.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in Illinois Tool Works by 11.7% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,087 shares of the industrial products company’s stock worth $939,000 after acquiring an additional 740 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Illinois Tool Works by 32.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,963 shares of the industrial products company’s stock valued at $1,585,000 after buying an additional 2,943 shares during the last quarter. Azimuth Capital Management LLC raised its stake in shares of Illinois Tool Works by 1.3% during the 1st quarter. Azimuth Capital Management LLC now owns 11,945 shares of the industrial products company’s stock valued at $1,582,000 after buying an additional 157 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Illinois Tool Works by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 3,084,804 shares of the industrial products company’s stock valued at $408,069,000 after buying an additional 203,294 shares during the last quarter. Finally, RiverPoint Capital Management LLC raised its stake in shares of Illinois Tool Works by 5.3% during the 1st quarter. RiverPoint Capital Management LLC now owns 6,500 shares of the industrial products company’s stock valued at $861,000 after buying an additional 327 shares during the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.

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About Illinois Tool Works

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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