Stock Mover of The Day: Will Illinois Tool Works Inc. Run Out of Steam Soon?

Stock Mover of The Day: Will Illinois Tool Works Inc. Run Out of Steam Soon?

The stock of Illinois Tool Works Inc. (NYSE:ITW) hit a new 52-week high and has $135.01 target or 8.00% above today’s $125.01 share price. The 5 months bullish chart indicates low risk for the $44.22B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $135.01 price target is reached, the company will be worth $3.54 billion 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 450,222 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 19.00% since April 21, 2016 and is uptrending. It has outperformed by 13.67% the S&P500.

Analysts await Illinois Tool Works Inc. (NYSE:ITW) to report earnings on January, 25. They expect $1.38 earnings per share, up 12.20% or $0.15 from last year’s $1.23 per share. ITW’s profit will be $488.15M for 22.65 P/E if the $1.38 EPS becomes a reality. After $1.50 actual earnings per share reported by Illinois Tool Works Inc. for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.

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

Out of 10 analysts covering Illinois Tool Works Inc (NYSE:ITW), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. Illinois Tool Works Inc has been the topic of 24 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Thursday, July 21 by RBC Capital Markets. Barclays Capital initiated the shares of ITW in a report on Monday, January 11 with “Equal Weight” rating. Argus Research maintained the stock with “Buy” rating in Thursday, April 21 report. Morgan Stanley maintained the stock with “Equal-Weight” rating in Thursday, April 21 report. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Equal-Weight” rating given on Wednesday, January 13 by Morgan Stanley. The stock has “Neutral” rating given by Robert W. Baird on Thursday, June 23. Zacks downgraded Illinois Tool Works Inc. (NYSE:ITW) on Monday, September 7 to “Hold” rating. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Outperform” rating given on Thursday, April 21 by Robert W. Baird. The firm earned “Neutral” rating on Monday, November 21 by Goldman Sachs. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Hold” rating given on Friday, August 28 by Zacks.

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 0.76 in 2016 Q2. Its down 0.10, from 0.86 in 2016Q1. The ratio is 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.
Hartline Investment Corp has invested 1.87% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Ariel Ltd has 906,206 shares for 1.19% of their US portfolio. Pensionfund Dsm Netherlands accumulated 39,500 shares or 0.55% of the stock. Robeco Institutional Asset Management Bv accumulated 223,145 shares or 0.18% of the stock. Century accumulated 0% or 33,258 shares. Moreover, Ridgeworth Cap Management Ltd Liability Corp has 0.03% invested in Illinois Tool Works Inc. (NYSE:ITW) for 32,101 shares. Carroll Financial Assoc accumulated 0.05% or 2,701 shares. Nippon Life Invsts Americas Incorporated accumulated 39,590 shares or 0.39% of the stock. Hl Finance Service Limited Liability Com owns 66,871 shares or 0.16% of their US portfolio. Oakworth last reported 0.08% of its portfolio in the stock. Kanaly Co last reported 0% of its portfolio in the stock. Moreover, Capital Planning Advsr Limited Liability Co has 0.14% invested in Illinois Tool Works Inc. (NYSE:ITW) for 2,460 shares. Folger Nolan Fleming Douglas Cap Management has 76,070 shares for 1.36% of their US portfolio. Moreover, Manufacturers Life Insurance Company The has 0.05% invested in Illinois Tool Works Inc. (NYSE:ITW) for 343,196 shares. Cambridge Advsr, a Nebraska-based fund reported 6,070 shares.

Insider Transactions: Since June 23, 2016, the stock had 1 buying transaction, and 11 selling transactions for $28.90 million net activity. $855,600 worth of shares were sold by Hartnett John R. on Thursday, July 21. Henderson Jay L bought $447,760 worth of stock or 4,000 shares. Shares for $1.60M were sold by Larsen Michael M on Thursday, July 21. Parry David C sold $4.74M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, August 11. SANTI ERNEST SCOTT also sold $8.46 million worth of Illinois Tool Works Inc. (NYSE:ITW) shares. $1.87 million worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by VALLS JUAN. The insider NAGARAJAN SUNDARAM sold 34,299 shares worth $4.21M.

More notable recent Illinois Tool Works Inc. (NYSE:ITW) news were published by: Prnewswire.com which released: “How These Industrial Goods Stocks are Faring? — Weyerhaeuser, Illinois Tool …” on November 18, 2016, also Forbes.com with their article: “Illinois Tool Works Reaches Analyst Target Price” published on October 13, 2016, Fool.com published: “Is Illinois Tool Works Stock Still a Good Value?” on November 17, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Forbes.com and their article: “June 2017 Options Now Available For Illinois Tool Works (ITW)” published on October 24, 2016 as well as Finance.Yahoo.com‘s news article titled: “Illinois Tool Works Hits 52-Week High on Solid Q3 & View” with publication date: November 16, 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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