Stock Analysis:Illinois Tool Works Inc (NYSE:ITW) Stock Target Has Been Increased
In a comprehensive report issued to clients and investors by Credit Suisse on 8 December, Illinois Tool Works Inc (NYSE:ITW) had its price target lifted to $90.00. The firm currently has a solid Neutral rating on shares.
From a total of 12 analysts covering Illinois Tool Works Inc (NYSE:ITW) stock, 10 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 53% of the ratings are positive. The highest target price is $110 while the lowest target price is $87. The mean of all analyst targets is $97.08 with a 3.48% above today’s ($92.29) stock price. Illinois Tool Works Inc was the topic of 11 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Zacks downgraded shares on September 7 to “Hold” rating. Zacks upgraded shares to “Hold” rating and $95 target share price in a report from an August 28. Deutsche Bank maintained ITW stock in a recent report from August 25 with “Buy” rating.
The stock decreased 1.20% or $1.12 during the last trading session, striking $92.29. Approximately shares of stock traded hands. Illinois Tool Works Inc. (NYSE:ITW) has declined 2.71% since May 6, 2015 and is downtrending. It has underperformed by 1.91% the S&P500.
The overall sentiment of institutions has increased to 0.78 in Q2 2015. Its up 0.04, from 0.74 in 2015Q2. The ratio is positive, as 78 institutions have sold all the shares of Illinois Tool Works Inc. that they owned while 334 funds have taken shares off the table. 54 funds have purchased shares for the first time while 269 added to their positions. These institutions now hold 277.95 million shares or 18.62% more than the 234.31 million shares they owned in 2015Q2.
The Fund Mcdaniel Terry & Co currently is holding shares equating to 4.64% of its total portfolio in Illinois Tool Works Inc. representing a total of 202,422 shares. Another fund,Coho Partners Ltd., is holding a total of 1.07 million shares equating to 4.2% of their holdings. Additionally, Compass Capital Management Inc has a 209,323 share stake in Illinois Tool Works Inc. which represents 3.87% of their total portfolio. The Fund, Garland Capital Management Inc, based out of Washington, has also built up a stake in the stock, which represents a total of 3.73% of their total portfolio. Finally Long Road Investment Counsel Llc, a fund which is based in the state of Michigan reported a total holdings of 50,941 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 2, 2015, shareholders of Illinois Tool Works Inc. have witnessed 0 insider buys, and a total of 1 insider sale equating to a net activity of approximately $1.65 million . Valls Juan sold 18,415 shares worth approximately $1.65 million. Parry David C sold 60,000 shares worth approximately $5.72M. Zimmerman Michael R. sold 3,000 shares worth approximately $291,460. Santi Ernest Scott sold 74,077 shares worth approximately $7.30 million. The company insider Martindale Steven L sold 77,031 shares worth $7.66 million.
Illinois Tool Works Inc. is a maker of a range of industrial products and equipment. The company has a market cap of $33.95 billion. The Company’s operates in seven divisions: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It has 18.14 P/E ratio. These activities serve end markets as automotive original equipment manufacturers/tiers, automotive aftermarket, general industrial, commercial food equipment and construction.
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.” Get a free copy of the Zacks research report on Illinois Tool Works Inc. (ITW).