In a report released yesterday, Andy Casey from Wells Fargo maintained a Buy rating on Illinois Tool Works (NYSE: ITW). The company’s shares closed yesterday at $132.01, close to its 52-week low of $128.75.
According to TipRanks.com, Casey is a 3-star analyst with an average return of 5.6% and a 41.9% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Eaton Corporation, Parker Hannifin, and Kennametal.
Currently, the analyst consensus on Illinois Tool Works is a Moderate Buy with an average price target of $149.64.
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Based on Illinois Tool Works’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.83 billion and net profit of $666 million. In comparison, last year the company earned revenue of $3.62 billion and had a net profit of $640 million.
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Illinois Tool Works, Inc. manufactures industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.
