Notable Price Action: Could Illinois Tool Works Inc. Lose its Strength? The Stock Reaches 52-Week High

Notable Price Action: Could Illinois Tool Works Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Illinois Tool Works Inc. (NYSE:ITW) hit a new 52-week high and has $194.20 target or 56.00% above today’s $124.49 share price. The 7 months bullish chart indicates low risk for the $44.21B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $194.20 price target is reached, the company will be worth $24.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 84,808 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 19.10% since April 14, 2016 and is uptrending. It has outperformed by 14.41% the S&P500.

Illinois Tool Works Inc. (NYSE:ITW) Ratings Coverage

Out of 10 analysts covering Illinois Tool Works Inc (NYSE:ITW), 5 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. Illinois Tool Works Inc has been the topic of 23 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Illinois Tool Works Inc. (NYSE:ITW) rating on Tuesday, August 25. Deutsche Bank has “Buy” rating and $102 price target. The rating was downgraded by Robert W. Baird to “Neutral” on Thursday, June 23. The rating was downgraded by Goldman Sachs to “Sell” on Thursday, September 3. Robert W. Baird maintained the stock with “Outperform” rating in Thursday, April 21 report. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Equal-Weight” rating by Morgan Stanley on Thursday, April 21. The firm has “Hold” rating given on Monday, September 7 by Zacks. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Sector Perform” rating given on Thursday, July 21 by RBC Capital Markets. The firm has “Buy” rating given on Thursday, April 21 by Seaport Global. As per Thursday, January 21, the company rating was initiated by Citigroup. Argus Research maintained the shares of ITW in a report on Thursday, April 21 with “Buy” rating.

According to Zacks Investment Research, “Illinois Tool Works, Inc. manufactures and markets a variety of products and systems that provide specific, problem-solving solutions for a diverse customer base worldwide. The company’s business units are divided into six segments: Engineered Products-North America; Engineered Products-International; Specialty Systems-North America; Specialty Systems-International; Consumer Products; and Leasing and Investments.”

Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.05, from 0.91 in 2016Q1. The ratio turned negative, as 46 funds sold all Illinois Tool Works Inc. shares owned while 350 reduced positions. 62 funds bought stakes while 277 increased positions. They now own 262.38 million shares or 4.28% less from 274.12 million shares in 2016Q1.
Mountain Pacific Advisers Id has 14,309 shares for 0.17% of their US portfolio. Clifford Swan Invest Counsel Limited Liability Company has 0.42% invested in the company for 57,892 shares. Argent holds 0.09% or 1,991 shares in its portfolio. Oppenheimer And Inc accumulated 7,994 shares or 0.02% of the stock. Advantus Cap Inc last reported 31,739 shares in the company. Ww Asset Mgmt Inc has invested 0.16% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Shufro Rose Limited Co, a New York-based fund reported 109,414 shares. Moreover, Guardian Inv Management has 1.94% invested in Illinois Tool Works Inc. (NYSE:ITW) for 10,968 shares. Vanguard Gru Incorporated holds 21.05 million shares or 0.14% of its portfolio. Janney Capital Mgmt Ltd Limited Liability Company holds 1,921 shares or 0.01% of its portfolio. Manufacturers Life The holds 0.05% or 343,196 shares in its portfolio. Strs Ohio has invested 0.09% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Moreover, Argent Trust has 0.77% invested in Illinois Tool Works Inc. (NYSE:ITW) for 23,862 shares. Banque Pictet Cie Sa has 0.12% invested in the company for 43,636 shares. Capital Mngmt Corp Va holds 2.34% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 58,066 shares.

Insider Transactions: Since June 23, 2016, the stock had 1 buy, and 9 selling transactions for $24.11 million net activity. SANTI ERNEST SCOTT also sold $8.46 million worth of Illinois Tool Works Inc. (NYSE:ITW) shares. SCHEUNEMAN RANDALL J also sold $1.79M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, July 21. Another trade for 4,560 shares valued at $501,600 was sold by NAGARAJAN SUNDARAM. 40,000 shares were sold by Parry David C, worth $4.74M. 4,000 shares were bought by Henderson Jay L, worth $447,760 on Tuesday, October 25. $1.87M worth of Illinois Tool Works Inc. (NYSE:ITW) shares were sold by VALLS JUAN. Larsen Michael M sold $1.60M worth of stock.

More notable recent Illinois Tool Works Inc. (NYSE:ITW) news were published by: Nasdaq.com which released: “Illinois Tool Works Hits 52-Week High on Solid Q3 & View” on November 16, 2016, also Forbes.com with their article: “June 2017 Options Now Available For Illinois Tool Works (ITW)” published on October 24, 2016, Foxbusiness.com published: “Correction: Earns-Illinois Tool Works story” on October 21, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Forbes.com and their article: “Illinois Tool Works Reaches Analyst Target Price” published on October 13, 2016 as well as Fool.com‘s news article titled: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” with publication date: October 05, 2016.

ITW Company Profile

Illinois Tool Works Inc. (ITW), incorporated on June 19, 1961, is a maker of a range of industrial products and equipment. The Firm operates through seven divisions: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. The Firm has over 80 divisions in approximately 60 countries.

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