The stock of Illinois Tool Works Inc. (NYSE:ITW) reached all time high today, Nov, 14 and still has $191.47 target or 55.00% above today’s $123.53 share price. This indicates more upside for the $43.59 billion company. This technical setup was reported by Barchart.com. If the $191.47 PT is reached, the company will be worth $23.97B 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 807,261 shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 18.71% since April 12, 2016 and is uptrending. It has outperformed by 13.73% 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. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Equal-Weight” rating given on Thursday, April 21 by Morgan Stanley. Seaport Global maintained Illinois Tool Works Inc. (NYSE:ITW) rating on Thursday, April 21. Seaport Global has “Buy” rating and $125 price target. The firm has “Outperform” rating given on Thursday, April 21 by Robert W. Baird. As per Wednesday, January 13, the company rating was initiated by Morgan Stanley. The firm earned “Sector Perform” rating on Thursday, July 21 by RBC Capital Markets. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Equal Weight” rating by Barclays Capital on Monday, January 11. The firm earned “Hold” rating on Friday, August 28 by Zacks. The stock has “Sell” rating given by Goldman Sachs on Thursday, September 3. Argus Research maintained the shares of ITW in a report on Thursday, April 21 with “Buy” rating. Zacks downgraded the stock to “Hold” rating in Monday, September 7 report.
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 2016 Q2. Its down 0.05, from 0.91 in 2016Q1. The ratio dropped, 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.
Guardian Cap L P, a Ontario – Canada-based fund reported 239,244 shares. Guyasuta Investment Advisors Inc owns 3,222 shares or 0.04% of their US portfolio. Los Angeles Cap Management Equity Research Inc holds 0.08% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 95,446 shares. The New York-based Wellington Shields Cap Lc has invested 0.08% in Illinois Tool Works Inc. (NYSE:ITW). Verity & Verity Ltd Company holds 2% or 49,921 shares in its portfolio. Tompkins Fin last reported 0.06% of its portfolio in the stock. Wfg Advsrs Lp, a Texas-based fund reported 938 shares. Great Lakes Advsrs Limited Liability Corporation holds 0.29% or 101,633 shares in its portfolio. Winslow Evans & Crocker accumulated 0% or 778 shares. North Point Managers Corp Oh has invested 0.06% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Moreover, Hanseatic has 0.22% invested in Illinois Tool Works Inc. (NYSE:ITW) for 5,440 shares. Rothschild Investment Il has 0.34% invested in the company for 25,906 shares. Palisade Asset Mngmt Ltd holds 5,583 shares or 0.11% of its portfolio. Gamco Invsts Inc Et Al accumulated 3,400 shares or 0% of the stock. Tocqueville Asset Mngmt Ltd Partnership accumulated 0.21% or 158,577 shares.
Insider Transactions: Since June 23, 2016, the stock had 1 insider buy, and 8 sales for $19.91 million net activity. $1.60M worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by Larsen Michael M. VALLS JUAN sold $1.87M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, July 21. The insider NAGARAJAN SUNDARAM sold $501,600. $1.79 million worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by SCHEUNEMAN RANDALL J on Thursday, July 21. 7,500 shares were sold by Hartnett John R., worth $855,600. On Tuesday, October 25 Henderson Jay L bought $447,760 worth of the stock or 4,000 shares. $8.46M worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by SANTI ERNEST SCOTT on Thursday, June 23.
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 Foxbusiness.com with their article: “Correction: Earns-Illinois Tool Works story” published on October 21, 2016, Forbes.com published: “Illinois Tool Works Reaches Analyst Target Price” on October 13, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Fool.com and their article: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” published on October 05, 2016 as well as Seekingalpha.com‘s news article titled: “Illinois Tool Works Delivering On The Growth Angle” with publication date: November 01, 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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