Illinois Tool Works (ITW) : Analyst Rating Update

Illinois Tool Works (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 4, which is also a Sell.

Illinois Tool Works (ITW) : The consensus price target for Illinois Tool Works (ITW) is $113.57 for the short term with a standard deviation of $7.09. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $125, however, the pessimist price target for the company is $104.

Illinois Tool Works (NYSE:ITW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $103.45 and $103.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $105.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $105.17, notching a gain of 1.21% for the day. The total traded volume was 1,811,238 . The stock had closed at $103.91 on the previous day.

Also, Baird downgrades its rating on Illinois Tool Works (NYSE:ITW). Analysts at the Baird have a current rating of Neutral on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 23, 2016. The company shares have rallied 13.03% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $109.54 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $105.17 and the 200 Day Moving Average price is recorded at $98.54.

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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