Price Action Report: Will Illinois Tool Works Inc. Run Out of Steam Soon?

Price Action Report: Will Illinois Tool Works Inc. Run Out of Steam Soon?

The stock of Illinois Tool Works Inc. (NYSE:ITW) reached all time high today, Nov, 24 and still has $128.69 target or 3.00% above today’s $124.94 share price. This indicates more upside for the $44.20B company. This technical setup was reported by Barchart.com. If the $128.69 PT is reached, the company will be worth $1.33B 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. The stock increased 0.39% or $0.49 on November 23, hitting $124.94. About 1.17 million shares traded hands. Illinois Tool Works Inc. (NYSE:ITW) has risen 19.38% since April 22, 2016 and is uptrending. It has outperformed by 13.97% 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 $488.20 million for 22.63 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. Morgan Stanley maintained the stock with “Equal-Weight” rating in Thursday, April 21 report. Goldman Sachs downgraded Illinois Tool Works Inc. (NYSE:ITW) on Thursday, September 3 to “Sell” rating. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Buy” rating given on Thursday, April 21 by Argus Research. The stock has “Equal-Weight” rating given by Morgan Stanley on Wednesday, January 13. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Hold” rating by Zacks on Monday, September 7. The firm earned “Equal Weight” rating on Monday, January 11 by Barclays Capital. On Tuesday, August 25 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Outperform” rating by Robert W. Baird on Thursday, April 21. The rating was initiated by Citigroup with “Buy” on Thursday, January 21. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, July 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 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.
The Montana-based First Interstate Financial Bank has invested 0.22% in Illinois Tool Works Inc. (NYSE:ITW). Moreover, Nbw Capital Limited Liability has 1.79% invested in Illinois Tool Works Inc. (NYSE:ITW) for 55,903 shares. Geneva Advisors Ltd Limited Liability Company holds 52,657 shares or 0.11% of its portfolio. Df Dent Inc last reported 0.01% of its portfolio in the stock. Nelson Van Denburg And Campbell Wealth Gru Lc accumulated 0.01% or 300 shares. Lathrop Invest Mgmt has 3.8% invested in the company for 117,578 shares. Zacks Investment Mngmt, a Illinois-based fund reported 30,131 shares. Mirae Asset Global Limited reported 60,499 shares or 0.16% of all its holdings. California State Teachers Retirement Systems reported 624,469 shares or 0.14% of all its holdings. Woodmont Inv Counsel Ltd Llc owns 2,820 shares or 0.09% of their US portfolio. Invest House Limited Liability Company holds 0.04% or 2,598 shares in its portfolio. Trustmark Bankshares Department has invested 0.05% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Lord Abbett Co Lc holds 0.09% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 268,300 shares. Argent Communications last reported 1,991 shares in the company. Holderness Investments has invested 0.4% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW).

Insider Transactions: Since June 23, 2016, the stock had 1 insider buy, and 12 insider sales for $30.04 million net activity. $855,600 worth of shares were sold by Hartnett John R. on Thursday, July 21. NAGARAJAN SUNDARAM sold $544,920 worth of stock or 4,560 shares. Parry David C sold $4.74 million worth of stock. Henderson Jay L bought $447,760 worth of stock or 4,000 shares. On Thursday, July 21 Larsen Michael M sold $1.60 million worth of the stock or 14,000 shares. 15,641 Illinois Tool Works Inc. (NYSE:ITW) shares with value of $1.79 million were sold by SCHEUNEMAN RANDALL J. On Thursday, July 21 the insider VALLS JUAN sold $1.87 million.

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, Forbes.com published: “June 2017 Options Now Available For Illinois Tool Works (ITW)” on October 24, 2016. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Fool.com and their article: “Is Illinois Tool Works Stock Still a Good Value?” published on November 17, 2016 as well as Fool.com‘s news article titled: “Better Buy: Caterpillar Inc. vs. Illinois Tool Works” with publication date: October 05, 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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