Analyst Rating Update on Illinois Tool Works (ITW)

Illinois Tool Works (NYSE:ITW) has an average broker rating of 1.83, which is interpreted as a Buy, as rated by 12 equity analysts. Nonetheless, 7 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 5 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Illinois Tool Works (NYSE:ITW) : Currently there are 7 street experts covering Illinois Tool Works (NYSE:ITW) stock. The most bullish and bearish price target for the stock is $125 and $104 respectively for the short term. The average price target of all the analysts comes to $113.57. The estimated standard deviation from the target is $7.09.

For the current week, the company shares have a recommendation consensus of Buy. Also, Baird downgrades their rating on the shares of Illinois Tool Works (NYSE:ITW). The current rating of the shares is Neutral. Earlier, the shares were rated a Outperform by the brokerage firm. The rating by the firm was issued on June 23, 2016.

Illinois Tool Works (NYSE:ITW): stock turned positive on Tuesday. Though the stock opened at $99.41, the bulls momentum made the stock top out at $100.55 level for the day. The stock recorded a low of $99.03 and closed the trading day at $100.53, in the green by 2.42%. The total traded volume for the day was 1,944,834. The stock had closed at $98.15 in the previous days trading.

In an insider trading activity, Parry David C, officer (Vice Chairman) of Illinois Tool Works Inc, unloaded 10,000 shares at an average price of $104.35 on May 16, 2016. The total amount of the transaction was worth $1,043,500, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Companys operates in seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. These operations serve end markets as automotive original equipment manufacturers/tiers, automotive aftermarket, general industrial, commercial food equipment and construction. It produces components and fasteners for automotive-related applications; equipment, consumables and related software; commercial food equipment, adhesives, sealants, lubrication and cutting fluids; arc welding equipment, consumables and accessories; construction fastening systems and truss products, and beverage packaging equipment and consumables. The Company operates approximately 90 divisions in 57 countries.

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