Illinois Tool Works (NYSE:ITW) Rating Reiterated by Seaport Global Securities

Seaport Global Securities reiterated their buy rating on shares of Illinois Tool Works (NYSE:ITW) in a report published on Thursday, January 25th. The brokerage currently has a $200.00 price target on the industrial products company’s stock. Seaport Global Securities also issued estimates for Illinois Tool Works’ Q1 2018 earnings at $1.76 EPS, Q2 2018 earnings at $1.93 EPS, Q3 2018 earnings at $2.00 EPS, Q4 2018 earnings at $1.95 EPS, FY2018 earnings at $7.64 EPS, Q2 2019 earnings at $2.11 EPS, Q3 2019 earnings at $2.24 EPS, Q4 2019 earnings at $2.18 EPS and FY2019 earnings at $8.45 EPS.

Other equities research analysts also recently issued research reports about the stock. Jefferies Group reaffirmed a buy rating and set a $190.00 price target on shares of Illinois Tool Works in a research note on Wednesday, November 29th. Argus reaffirmed a buy rating and set a $180.00 price target (up previously from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. Wells Fargo & Co set a $170.00 target price on shares of Illinois Tool Works and gave the company a buy rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Citigroup reissued a buy rating and issued a $171.00 target price (up previously from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. Finally, Bank of America started coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a buy rating and a $190.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $177.18.

Shares of Illinois Tool Works (ITW) opened at $161.42 on Thursday. The stock has a market cap of $55,300.00, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.06 and a beta of 1.18. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. Illinois Tool Works has a 12 month low of $127.18 and a 12 month high of $179.07.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. Illinois Tool Works’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. equities analysts forecast that Illinois Tool Works will post 7.71 EPS for the current year.

In related news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the transaction, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. Insiders sold a total of 113,468 shares of company stock worth $19,163,781 in the last ninety days. 0.90% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of ITW. Janus Henderson Group PLC grew its holdings in Illinois Tool Works by 2,939.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after acquiring an additional 3,628,722 shares in the last quarter. BlackRock Inc. grew its holdings in Illinois Tool Works by 5.8% during the 2nd quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock worth $2,927,540,000 after acquiring an additional 1,118,381 shares in the last quarter. Vaughan David Investments Inc. IL grew its holdings in Illinois Tool Works by 34,278.6% during the 3rd quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock worth $35,779,000 after acquiring an additional 936,835 shares in the last quarter. Koch Industries Inc. grew its holdings in Illinois Tool Works by 31,484.3% during the 2nd quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock worth $763,000 after acquiring an additional 765,699 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Illinois Tool Works by 100.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after acquiring an additional 707,287 shares in the last quarter. 74.63% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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