Brokerages Set Illinois Tool Works Inc. (NYSE:ITW) Target Price at $270.11

Illinois Tool Works Inc. (NYSE:ITW) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $270.11.

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Truist Financial upped their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th.

Institutional Trading of Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the second quarter worth about $30,000. True Wealth Design LLC raised its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the 3rd quarter valued at about $32,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $33,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 0.9 %

Shares of ITW stock opened at $259.02 on Monday. The firm’s fifty day moving average price is $263.71 and its two-hundred day moving average price is $256.07. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a market capitalization of $76.49 billion, a P/E ratio of 22.41, a PEG ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts predict that Illinois Tool Works will post 10.13 EPS for the current fiscal year.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.