It Seems Illinois Tool Works Inc. (ITW) Will Go Up. Just Reaches 52-Week High

January 20, 2018 - By Linda Rogers

Investors sentiment increased to 0.87 in 2017 Q3. Its up 0.17, from 0.7 in 2017Q2. It is positive, as 47 investors sold Illinois Tool Works Inc. shares while 354 reduced holdings. 79 funds opened positions while 268 raised stakes. 251.79 million shares or 0.92% less from 254.13 million shares in 2017Q2 were reported.
Morgan Stanley stated it has 1.36 million shares. Aull Monroe Management stated it has 0.98% in Illinois Tool Works Inc. (NYSE:ITW). 11,675 were accumulated by Cliftonlarsonallen Wealth Advsr Lc. Old Dominion Capital Management reported 4,979 shares. Koshinski Asset Mngmt Inc accumulated 2,449 shares. Personal Advisors holds 0.48% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW) for 167,907 shares. Cardinal Capital Mgmt accumulated 2.01% or 42,991 shares. Perigon Wealth Mgmt Lc holds 0.15% or 3,170 shares. Brighton Jones Ltd Company stated it has 1,715 shares. 4,143 are held by Cetera Advisors Ltd Limited Liability Company. Essex Ser owns 0.11% invested in Illinois Tool Works Inc. (NYSE:ITW) for 1,926 shares. Denali Advsr Lc holds 2.09% or 85,213 shares in its portfolio. Citigroup Inc has invested 0.02% in Illinois Tool Works Inc. (NYSE:ITW). Nbt Savings Bank N A Ny invested 0.25% of its portfolio in Illinois Tool Works Inc. (NYSE:ITW). Franklin Street Nc owns 4,000 shares or 0.1% of their US portfolio.

Since October 2, 2017, it had 0 insider buys, and 5 selling transactions for $24.79 million activity. Shares for $7.62 million were sold by VALLS JUAN on Wednesday, October 25. $4.99M worth of Illinois Tool Works Inc. (NYSE:ITW) was sold by SMITH HAROLD B. Another trade for 6,533 shares valued at $979,950 was sold by Hartnett John R..

The stock of Illinois Tool Works Inc. (NYSE:ITW) hit a new 52-week high and has $184.49 target or 7.00 % above today’s $172.42 share price. The 7 months bullish chart indicates low risk for the $59.07 billion company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $184.49 price target is reached, the company will be worth $4.13 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.

The stock increased 1.23% or $2.1 during the last trading session, reaching $172.42. About 1.25 million shares traded or 4.67% up from the average. Illinois Tool Works Inc. (NYSE:ITW) has risen 33.32% since January 20, 2017 and is uptrending. It has outperformed by 16.62% the S&P500.

Analysts await Illinois Tool Works Inc. (NYSE:ITW) to report earnings on January, 24. They expect $1.62 earnings per share, up 16.55 % or $0.23 from last year’s $1.39 per share. ITW’s profit will be $555.01 million for 26.61 P/E if the $1.62 EPS becomes a reality. After $1.71 actual earnings per share reported by Illinois Tool Works Inc. for the previous quarter, Wall Street now forecasts -5.26 % negative EPS growth.

Illinois Tool Works Inc. (NYSE:ITW) Ratings Coverage

Among 19 analysts covering Illinois Tool Works Inc (NYSE:ITW), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. Illinois Tool Works Inc had 74 analyst reports since July 24, 2015 according to SRatingsIntel. The rating was upgraded by J.P. Morgan to “Hold” on Tuesday, October 10. As per Friday, July 14, the company rating was maintained by Stifel Nicolaus. On Tuesday, September 12 the stock rating was maintained by RBC Capital Markets with “Hold”. On Monday, October 2 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Robert W. Baird maintained Illinois Tool Works Inc. (NYSE:ITW) on Friday, October 13 with “Hold” rating. The firm earned “Buy” rating on Thursday, June 1 by Goldman Sachs. The rating was maintained by Credit Suisse on Tuesday, October 24 with “Neutral”. The rating was maintained by Morgan Stanley with “Equal-Weight” on Thursday, April 21. The company was downgraded on Thursday, August 17 by J.P. Morgan. Wells Fargo maintained the stock with “Buy” rating in Monday, October 16 report.

More notable recent Illinois Tool Works Inc. (NYSE:ITW) news were published by: Nasdaq.com which released: “Illinois Tool Works, Aegean Marine Petroleum Network and International …” on January 19, 2018, also Dailyherald.com with their article: “Illinois Tool Works leases space in Lockport” published on January 17, 2018, Prnewswire.com published: “Pre-Market Technical Scan on Machinery Equities — Flowserve, Gardner Denver …” on January 18, 2018. More interesting news about Illinois Tool Works Inc. (NYSE:ITW) were released by: Nasdaq.com and their article: “Ex-Dividend Reminder: Kansas City Southern, Primoris Services and Illinois …” published on December 26, 2017 as well as Nasdaq.com‘s news article titled: “Illinois Tool Works Inc. (ITW) Ex-Dividend Date Scheduled for December 28, 2017” with publication date: December 27, 2017.

Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. The company has market cap of $59.07 billion. It operates through seven divisions: Automotive OEM; Test & Measurement and Electronics; Food Equipment; Polymers & Fluids; Welding; Construction Products; and Specialty Products. It has a 26.45 P/E ratio. The Automotive OEM segment produces plastic and metal components, fasteners, and assemblies for automotive-related applications.

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