Price Action Alert: Illinois Tool Works Inc. Can’t Be More Hot. Just Reaches 52-Week High

Price Action Alert: Illinois Tool Works Inc. Can't Be More Hot. Just Reaches 52 Week High

The stock of Illinois Tool Works Inc. (NYSE:ITW) hit a new 52-week high and has $136.96 target or 9.00% above today’s $125.65 share price. The 9 months bullish chart indicates low risk for the $43.79B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $136.96 price target is reached, the company will be worth $3.94 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 591,262 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 $480.94 million for 22.76 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 of Illinois Tool Works Inc. (NYSE:ITW) has “Sector Perform” rating given on Thursday, July 21 by RBC Capital Markets. The rating was initiated by Barclays Capital on Monday, January 11 with “Equal Weight”. The company was upgraded on Friday, August 28 by Zacks. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Neutral” rating given on Monday, November 21 by Goldman Sachs. Goldman Sachs downgraded it to “Sell” rating and $99 target price in Thursday, September 3 report. The firm earned “Outperform” rating on Thursday, April 21 by Robert W. Baird. Argus Research maintained it with “Buy” rating and $120 target price in Thursday, April 21 report. The stock of Illinois Tool Works Inc. (NYSE:ITW) earned “Buy” rating by Seaport Global on Thursday, April 21. The stock of Illinois Tool Works Inc. (NYSE:ITW) has “Hold” rating given on Monday, September 7 by Zacks. The company was initiated on Thursday, January 21 by Citigroup.

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 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.
Factory Mutual Insurance accumulated 295,500 shares or 0.41% of the stock. The Ohio-based Eubel Brady Suttman Asset Management Inc has invested 3.71% in Illinois Tool Works Inc. (NYSE:ITW). Shell Asset Management holds 0.1% or 39,365 shares in its portfolio. Schwartz Inv Counsel holds 1.21% or 161,200 shares in its portfolio. Teachers Retirement Sys Of The State Of Kentucky holds 0.51% or 373,505 shares in its portfolio. Johnson Inv Counsel Inc last reported 0.06% of its portfolio in the stock. Whittier Tru accumulated 76,276 shares or 0.35% of the stock. Chevy Chase Tru Hldg owns 278,704 shares or 0.16% of their US portfolio. Legal General Grp Public Limited Co has 0.17% invested in the company for 1.52M shares. Diker Ltd Liability Company last reported 2,200 shares in the company. Sterneck Management Ltd Liability Corp has invested 0.18% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Aimz Inv Advsrs Lc has invested 1.21% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). X Management Limited Liability Company holds 0% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 523 shares. Virginia Retirement System Et Al last reported 0.2% of its portfolio in the stock. First Niagara Bancorporation owns 48,133 shares or 1.43% of their US portfolio.

Insider Transactions: Since June 23, 2016, the stock had 1 insider buy, and 12 sales for $30.04 million net activity. Parry David C sold $4.74 million worth of stock or 40,000 shares. 14,000 Illinois Tool Works Inc. (NYSE:ITW) shares with value of $1.60 million were sold by Larsen Michael M. 9,238 shares with value of $1.14M were sold by Zimmerman Michael R. on Tuesday, November 22. NAGARAJAN SUNDARAM had sold 4,560 shares worth $544,920 on Wednesday, September 7. SANTI ERNEST SCOTT also sold $8.46M worth of Illinois Tool Works Inc. (NYSE:ITW) on Thursday, June 23. On Thursday, July 21 Hartnett John R. sold $855,600 worth of the stock or 7,500 shares. 15,641 shares with value of $1.79 million were sold by SCHEUNEMAN RANDALL J on Thursday, July 21.

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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