November 23, 2016 - By Adrian Mccoy
After the disclosing of a public form filled with Washington-based Security and Exchange Commission; a insider sale became apparent. The Executive Vice President of Illinois Tool Works Inc, Michael Zimmerman; finalized a trade in the open market by unloading 9,238 shares at the average share price of $123.6 of the Illinois-based company worth approx. $1,142,094 U.S. Dollars. Michael Zimmerman has rights to exactly 0.0005% of Illinois Tool Works Inc’s stock market capitalization or 1,778 shares.
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. $125 is the highest target while $85 is the lowest. The $103.17 average target is -17.25% below today’s ($124.67) stock price. Illinois Tool Works Inc has been the topic of 24 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Zacks downgraded the shares of ITW in a report on Monday, September 7 to “Hold” rating. The company was maintained on Tuesday, August 25 by Deutsche Bank. Goldman Sachs downgraded Illinois Tool Works Inc. (NYSE:ITW) on Monday, November 21 to “Neutral” rating. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, April 21. The firm earned “Equal-Weight” rating on Wednesday, January 13 by Morgan Stanley. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Neutral” rating given on Thursday, June 23 by Robert W. Baird. The rating was maintained by Robert W. Baird on Thursday, April 21 with “Outperform”. The rating was maintained by Seaport Global on Thursday, April 21 with “Buy”. The firm has “Buy” rating given on Thursday, April 21 by Argus Research. Zacks upgraded Illinois Tool Works Inc. (NYSE:ITW) rating on Friday, August 28. Zacks has “Hold” rating and $95 price target.
Insitutional Activity: The institutional sentiment decreased to 0.76 in 2016 Q2. Its down 0.10, from 0.86 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.
Old National Bank In reported 16,037 shares or 0.09% of all its holdings. Investec Asset Mgmt reported 266,034 shares or 0.14% of all its holdings. Adirondack Tru accumulated 0.46% or 6,237 shares. Ibm Retirement Fund has invested 0.15% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Moreover, Sandy Spring Comml Bank has 0.02% invested in Illinois Tool Works Inc. (NYSE:ITW) for 1,691 shares. The New York-based Gotham Asset Management Llc has invested 0.29% in Illinois Tool Works Inc. (NYSE:ITW). Barclays Public Ltd Co last reported 110,963 shares in the company. Wetherby Asset Mgmt reported 9,102 shares or 0.21% of all its holdings. Pensionfund Dsm Netherlands reported 39,500 shares or 0.55% of all its holdings. Cookson Peirce And Inc last reported 153,460 shares in the company. Mutual Of America Capital Mngmt Ltd holds 0.08% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 37,818 shares. Moreover, Twin Capital has 0.21% invested in Illinois Tool Works Inc. (NYSE:ITW) for 26,900 shares. Beck Mack And Oliver Ltd Liability Corp has 18,780 shares for 0.07% of their US portfolio. Lombard Odier Asset Mgmt (Europe) accumulated 6,327 shares or 0.03% of the stock. Wunderlich Capital Managemnt accumulated 0.15% or 1,736 shares.
Insider Transactions: Since June 23, 2016, the stock had 1 insider purchase, and 11 sales for $28.90 million net activity. 34,299 shares with value of $4.21M were sold by NAGARAJAN SUNDARAM on Thursday, November 10. Hartnett John R. had sold 7,500 shares worth $927,675. On Thursday, July 21 VALLS JUAN sold $1.87 million worth of the stock or 16,403 shares. SCHEUNEMAN RANDALL J sold 15,641 shares worth $1.79 million. $447,760 worth of Illinois Tool Works Inc. (NYSE:ITW) shares were bought by Henderson Jay L. $3.86 million worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by Parry David C on Wednesday, November 16. SANTI ERNEST SCOTT sold $8.46M worth of stock.
About 375,054 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.
Illinois Tool Works Inc. is a maker of a range of industrial products and equipment. The company has a market cap of $44.10 billion. The Firm operates through seven divisions: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It has a 22.73 P/E ratio. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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.”
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 $488.15 million for 22.59 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.
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.
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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By Adrian Mccoy