Wells Fargo Remains a Sell on Illinois Tool Works (ITW)

In a report released yesterday, Joe O’Dea from Wells Fargo maintained a Sell rating on Illinois Tool Works (ITW – Research Report), with a price target of $255.00. The company’s shares closed last Friday at $250.46.

According to TipRanks, O’Dea is a 4-star analyst with an average return of 7.7% and a 56.59% success rate. O’Dea covers the Industrials sector, focusing on stocks such as Johnson Controls, Eaton, and Lennox International.

The word on The Street in general, suggests a Hold analyst consensus rating for Illinois Tool Works with a $259.50 average price target, representing a 3.61% upside. In a report released on April 8, Wolfe Research also maintained a Sell rating on the stock with a $250.00 price target.

Based on Illinois Tool Works’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.07 billion and a net profit of $754 million. In comparison, last year the company earned a revenue of $4.01 billion and had a net profit of $738 million

Based on the recent corporate insider activity of 41 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, Michael M. Larsen, the SVP & CFO of ITW sold 37,167.00 shares for a total of $9,851,485.02.

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 (ITW) Company Description:

Founded in 1912, Illinois Tool Works, Inc. manufactures and sells industrial products and equipment worldwide. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products.