Illinois Tool Works Inc. (NYSE:ITW) shares gapped up prior to trading on Friday . The stock had previously closed at $105.53, but opened at $105.92. Illinois Tool Works shares last traded at $107.96, with a volume of 712,861 shares changing hands.

Several research analysts have commented on ITW shares. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $110.00 price target on shares of Illinois Tool Works in a report on Thursday, March 31st. Zacks Investment Research raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, June 21st. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Illinois Tool Works in a report on Tuesday, June 7th. Morgan Stanley raised their price target on shares of Illinois Tool Works from $97.00 to $101.00 in a report on Thursday, April 7th. Finally, Robert W. Baird downgraded shares of Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 price target for the company. in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $106.38.

The stock’s 50-day moving average price is $105.45 and its 200-day moving average price is $98.76. The stock has a market cap of $38.94 billion and a PE ratio of 20.79.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, April 20th. The company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.03. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. On average, equities analysts expect that Illinois Tool Works Inc. will post $5.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Thursday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, June 28th. This represents a $2.20 annualized dividend and a yield of 2.03%.

In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 22,941 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $105.42, for a total transaction of $2,418,440.22. Following the completion of the transaction, the insider now owns 38,424 shares in the company, valued at $4,050,658.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lei Zhang Schlitz sold 2,500 shares of the stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $105.17, for a total transaction of $262,925.00. Following the transaction, the executive vice president now owns 992 shares of the company’s stock, valued at approximately $104,328.64. The disclosure for this sale can be found here.

A number of institutional investors have added to or reduced their stakes in the stock. Carret Asset Management LLC raised its position in Illinois Tool Works by 1.6% in the fourth quarter. Carret Asset Management LLC now owns 12,329 shares of the company’s stock valued at $1,143,000 after buying an additional 200 shares during the period. Investors Capital Advisory Services raised its position in Illinois Tool Works by 91.6% in the fourth quarter. Investors Capital Advisory Services now owns 14,014 shares of the company’s stock valued at $1,298,000 after buying an additional 6,700 shares during the period. Haverford Trust Co. raised its position in Illinois Tool Works by 18.2% in the fourth quarter. Haverford Trust Co. now owns 14,187 shares of the company’s stock valued at $1,315,000 after buying an additional 2,189 shares during the period. Boys Arnold & Co. Inc. raised its position in Illinois Tool Works by 63.3% in the fourth quarter. Boys Arnold & Co. Inc. now owns 15,202 shares of the company’s stock valued at $1,409,000 after buying an additional 5,891 shares during the period. Finally, Victory Capital Management Inc. raised its position in Illinois Tool Works by 42.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,555 shares of the company’s stock valued at $1,442,000 after buying an additional 4,671 shares during the period.

Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.