The stock of Illinois Tool Works Inc. (NYSE:ITW) reached all time high today, Nov, 29 and still has $129.37 target or 3.00% above today’s $125.60 share price. This indicates more upside for the $43.77B company. This technical setup was reported by Barchart.com. If the $129.37 PT is reached, the company will be worth $1.31B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 846,424 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 18.45% since April 26, 2016 and is uptrending. It has outperformed by 13.19% the S&P500.
Analysts await Illinois Tool Works Inc. (NYSE:ITW) to report earnings on January, 25. They expect $1.38 EPS, up 12.20% or $0.15 from last year’s $1.23 per share. ITW’s profit will be $480.91M for 22.75 P/E if the $1.38 EPS becomes a reality. After $1.50 actual EPS 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 stock has “Hold” rating given by Zacks on Friday, August 28. On Monday, January 11 the stock rating was initiated by Barclays Capital with “Equal Weight”. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Sell” rating by Goldman Sachs on Thursday, September 3. The firm has “Sector Perform” rating given on Thursday, July 21 by RBC Capital Markets. As per Thursday, April 21, the company rating was maintained by Robert W. Baird. Argus Research maintained it with “Buy” rating and $120 target price in Thursday, April 21 report. On Tuesday, August 25 the stock rating was maintained by Deutsche Bank with “Buy”. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, January 13. The firm has “Neutral” rating by Robert W. Baird given on Thursday, June 23. The stock has “Neutral” rating given by Goldman Sachs on Monday, November 21.
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 Q2 2016. Its down 0.10, from 0.86 in 2016Q1. The ratio fall, 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.
Dimensional Fund Advsr Ltd Partnership, a Texas-based fund reported 758,892 shares. 1832 Asset Management L P holds 500 shares or 0% of its portfolio. Tradewinds Ltd Liability Company, a Washington-based fund reported 993 shares. Winslow Evans & Crocker owns 778 shares or 0% of their US portfolio. Guardian accumulated 1,141 shares or 0% of the stock. Investment House Ltd Company has invested 0.04% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Cibc World Mkts Inc has 0.01% invested in the company for 12,222 shares. Jones Fincl Lllp owns 48,403 shares or 0.02% of their US portfolio. First Trust Limited Partnership last reported 0.05% of its portfolio in the stock. Mariner Wealth Advsrs Ltd Llc has invested 0.01% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Moore Cap Mgmt L P accumulated 2,631 shares or 0.01% of the stock. Grandfield Dodd Limited Co, a New York-based fund reported 189,758 shares. Tocqueville Asset Management Lp, a New York-based fund reported 158,577 shares. Confluence Invest Mgmt owns 294,246 shares or 0.84% of their US portfolio. Trillium Asset Mgmt Limited has 0.79% invested in the company for 114,527 shares.
Insider Transactions: Since June 23, 2016, the stock had 1 buying transaction, and 12 insider sales for $30.04 million net activity. 4,560 Illinois Tool Works Inc. (NYSE:ITW) shares with value of $501,600 were sold by NAGARAJAN SUNDARAM. Henderson Jay L also bought $447,760 worth of Illinois Tool Works Inc. (NYSE:ITW) on Tuesday, October 25. $855,600 worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by Hartnett John R. on Thursday, July 21. 9,238 shares were sold by Zimmerman Michael R., worth $1.14M. Shares for $1.87M were sold by VALLS JUAN on Thursday, July 21. SANTI ERNEST SCOTT sold $8.46M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, June 23. Another trade for 31,037 shares valued at $3.86M was sold by Parry David C.
More notable recent Illinois Tool Works Inc. (NYSE:ITW) news were published by: Forbes.com which released: “June 2017 Options Now Available For Illinois Tool Works (ITW)” on October 24, 2016, also Forbes.com with their article: “Illinois Tool Works Reaches Analyst Target Price” published on October 13, 2016, Fool.com published: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” on October 05, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Fool.com and their article: “Illinois Tool Works: How Margin Expanded” published on October 21, 2016 as well as Fool.com‘s news article titled: “Illinois Tool Works Does It Again” with publication date: July 21, 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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