Illinois Tool Works (NYSE:ITW) Price Target Lowered to $262.00 at Barclays

Illinois Tool Works (NYSE:ITW) had its target price cut by Barclays from $265.00 to $262.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

ITW has been the topic of several other reports. Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Wells Fargo & Company dropped their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Trading Up 0.3 %

NYSE ITW opened at $255.77 on Friday. The stock has a market cap of $75.53 billion, a P/E ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11. The company’s fifty day simple moving average is $259.91 and its 200-day simple moving average is $257.28. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Equities research analysts predict that Illinois Tool Works will post 10.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently made changes to their positions in the stock. Nikulski Financial Inc. grew its stake in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares during the last quarter. Baron Wealth Management LLC grew its position in shares of Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after acquiring an additional 40 shares during the period. Sigma Planning Corp lifted its position in Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in Illinois Tool Works by 1.1% in the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

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.