Illinois Tool Works (ITW) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 104

Illinois Tool Works (ITW) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 104 from a previous price target of $101 . RBC Capital Mkts advised their investors in a research report released on Jul 21, 2016.

Many Wall Street Analysts have commented on Illinois Tool Works. Robert W. Baird Downgraded Illinois Tool Works on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $108.

On the company’s financial health, Illinois Tool Works reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.40. The company had revenue of $3431.00 million for the quarter, compared to analysts expectations of $3413.93 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.30 EPS.

Illinois Tool Works opened for trading at $112.5 and hit $114.52 on the upside on Wednesday, eventually ending the session at $114.22, with a gain of 2.80% or 3.11 points. The heightened volatility saw the trading volume jump to 29,47,031 shares. Company has a market cap of $41,047 M.

In a different news, on Jul 13, 2016, Sundaram Nagarajan (Executive Vice President) sold 4,560 shares at $110.00 per share price. According to the SEC, on May 18, 2016, David C Parry (Vice Chairman) sold 10,000 shares at $104.35 per share price. On May 13, 2016, Lei Zhang Schlitz (Executive Vice President) sold 2,500 shares at $104.93 per share price, according to the Form-4 filing with the securities and exchange commission.

Illinois Tool Works Inc. (ITW) is a manufacturer of a range of industrial products and equipment. The Company’s 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.

Illinois Tool Works

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