The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Illinois Tool Works, Inc shares valued at $3,179,049 were purchased by Lawler Mary Katherine on Nov 06 ’24. At $272.95 per share, Lawler Mary Katherine acquired 11,647 shares.
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Also, Zimmerman Michael R. purchased 15,657 shares, netting a total of over 4,121,577 in proceeds.
Before that, SMITH DAVID BYRON JR had added 775 shares to its account. In a trade valued at $185,086, the Director bought Illinois Tool Works, Inc shares for $238.82 each. Upon closing the transaction, the insider’s holdings increased to 775 shares, worth approximately $33.16 million.
As published in their initiating research note from Truist on March 14, 2024, Illinois Tool Works, Inc [ITW] has been a Buy and the price target has been revised to $301. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early February. As of January 10, 2024, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for ITW. Earlier on January 03, 2023, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for ITW stock which previously was a “a Buy”.
Analyzing ITW Stock Performance
During the last five days, there has been a surge of approximately 4.51%. Over the course of the year, Illinois Tool Works, Inc shares have jumped approximately 4.19%. Shares of the company reached a 52-week high of $277.58 on 11/06/24 and a 52-week low of $232.77 on 07/01/24. A 50-day SMA is recorded $257.16, while a 200-day SMA reached $251.73. Nevertheless, trading volume fell to 0.82 million shares from 1.15 million shares the previous day.
Support And Resistance Levels for Illinois Tool Works, Inc (ITW)
According to the 24-hour chart, there is a support level at 270.82, which, if violated, would cause prices to drop to 268.72. In the upper region, resistance lies at 275.48. The next price resistance is at 278.05. RSI (Relative Strength Index) is 68.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.07, which suggests the price will increase in the coming days. Percent R is at 19.00%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
