In a report released yesterday, Andy Casey from Wells Fargo maintained a Buy rating on Illinois Tool Works (ITW). The company’s shares closed last Monday at $149.22.
According to TipRanks.com, Casey is a 4-star analyst with an average return of 5.2% and a 47.8% success rate. Casey covers the Industrial Goods sector, focusing on stocks such as Parker Hannifin, Caterpillar, and Kennametal.
Currently, the analyst consensus on Illinois Tool Works is a Hold with an average price target of $173.20.
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Based on Illinois Tool Works’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.47 billion and net profit of $641 million. In comparison, last year the company earned revenue of $3.58 billion and had a net profit of $607 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ITW in relation to earlier this year. Last month, John Hartnett, the EVP of ITW sold 19,980 shares for a total of $3,781,291.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
