Illinois Tool Works (NYSE:ITW – Get Free Report) had its price target increased by Truist Financial from $281.00 to $312.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective points to a potential upside of 20.51% from the company’s previous close.
A number of other analysts also recently commented on ITW. Barclays decreased their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday. Argus raised Illinois Tool Works to a “strong-buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI dropped their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $255.22.
Get Our Latest Analysis on ITW
Illinois Tool Works Stock Performance
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.41 EPS. On average, equities analysts expect that Illinois Tool Works will post 10.18 EPS for the current year.
Hedge Funds Weigh In On Illinois Tool Works
A number of hedge funds have recently made changes to their positions in the business. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the 2nd quarter valued at about $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works during the first quarter worth approximately $34,000. General Partner Inc. bought a new stake in shares of Illinois Tool Works in the first quarter worth $35,000. Finally, Rise Advisors LLC acquired a new stake in Illinois Tool Works in the first quarter valued at $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.
About Illinois Tool Works
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.
Featured Articles
- Five stocks we like better than Illinois Tool Works
- How to Use the MarketBeat Stock Screener
- 3 Momentum Trades for October With Ample Upside Ahead
- What Are Dividend Achievers? An Introduction
- Roblox Dips on Short Report—Here’s Why It Could Bounce Back Fast
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- 2 Reasons to Jump on Apple Stock Now and 1 Reason to Think Twice
Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.