Credit Suisse Maintains Their Hold Rating on Illinois Tool Works (ITW)

By Jason Carr

In a report released yesterday, Jamie Cook from Credit Suisse maintained a Hold rating on Illinois Tool Works (ITWResearch Report), with a price target of $124. The company’s shares closed yesterday at $132.17.

According to TipRanks.com, Cook is a 4-star analyst with an average return of 6.1% and a 54.9% success rate. Cook covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Aecom Technology Corp, and Jacobs Engineering.

The word on The Street in general, suggests a Hold analyst consensus rating for Illinois Tool Works with a $132.73 average price target, a 0.4% upside from current levels. In a report issued on January 14, Citigroup also downgraded the stock to Hold with a $144 price target.

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Illinois Tool Works’ market cap is currently $43.85B and has a P/E ratio of 23.81. The company has a Price to Book ratio of 12.38.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, Ernest Scott Santi, the Chairman & CEO of ITW sold 108,885 shares for a total of $14,502,650.

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.