Illinois Tool Works Inc. (NYSE:ITW) Receives $270.11 Average Target Price from Analysts

Illinois Tool Works Inc. (NYSE:ITW) has received an average rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $269.89.

ITW has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company cut their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus cut their price target on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday. Finally, Barclays decreased their price objective on 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.

Hedge Funds Weigh In On Illinois Tool Works

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after purchasing an additional 398,676 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after buying an additional 322,192 shares during the period. National Bank of Canada FI grew its holdings in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after buying an additional 308,935 shares during the last quarter. AXA S.A. increased its position in Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock valued at $80,888,000 after acquiring an additional 241,618 shares during the period. Finally, Geode Capital Management LLC raised its stake in Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after acquiring an additional 167,422 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Down 0.0 %

Illinois Tool Works stock opened at $259.83 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a 50 day moving average price of $263.01 and a 200 day moving average price of $256.45. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market capitalization of $76.73 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11.

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