Illinois Tool Works (NYSE:ITW) Given New $250.00 Price Target at Robert W. Baird

by · The Cerbat Gem

Illinois Tool Works (NYSE:ITW – Get Free Report) had its target price lifted by equities researchers at Robert W. Baird from $240.00 to $250.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential downside of 5.36% from the company’s current price.

Several other research firms have also issued reports on ITW. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Truist Financial raised their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays reduced their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $254.90.

Check Out Our Latest Research Report on Illinois Tool Works

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $264.16 on Thursday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. The firm has a fifty day moving average price of $254.96 and a 200 day moving average price of $247.27. Illinois Tool Works has a fifty-two week low of $221.82 and a fifty-two week high of $271.15. The firm has a market cap of $78.43 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business earned $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, sell-side analysts expect that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently bought and sold shares of ITW. Norden Group LLC increased its holdings in Illinois Tool Works by 30.6% in the 1st quarter. Norden Group LLC now owns 1,738 shares of the industrial products company’s stock worth $466,000 after buying an additional 407 shares during the period. Private Advisor Group LLC grew its stake in shares of Illinois Tool Works by 0.3% during the 1st quarter. Private Advisor Group LLC now owns 41,489 shares of the industrial products company’s stock worth $11,133,000 after purchasing an additional 115 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $579,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Illinois Tool Works during the 1st quarter worth approximately $67,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Illinois Tool Works by 0.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 205,800 shares of the industrial products company’s stock worth $55,222,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

About Illinois Tool Works

(Get Free Report)

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.

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