Illinois Tool Works (NYSE:ITW) Price Target Raised to $230.00

Illinois Tool Works (NYSE:ITW) had its target price boosted by research analysts at Barclays from $215.00 to $230.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential downside of 12.57% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Truist Financial increased their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI decreased their target price on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $263.08 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 1.94. The stock has a 50 day simple moving average of $255.59 and a 200 day simple moving average of $247.41. Illinois Tool Works has a 1-year low of $225.88 and a 1-year high of $271.15. The stock has a market cap of $77.69 billion, a P/E ratio of 22.76, a PEG ratio of 3.97 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced 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 net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business posted $2.55 earnings per share. Illinois Tool Works’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Illinois Tool Works will post 10.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. PEAK6 Investments LLC raised its position in Illinois Tool Works by 17.5% in the first quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 140 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Illinois Tool Works during the 1st quarter worth approximately $1,147,000. Envestnet Portfolio Solutions Inc. grew its holdings in Illinois Tool Works by 78.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock worth $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Handelsbanken Fonder AB increased its position in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Illinois Tool Works by 28.6% during the first quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after acquiring an additional 44,898 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

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.