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

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

Several other brokerages also recently commented on ITW. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus lifted their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, 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 research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $256.40.

Illinois Tool Works Stock Performance

ITW stock opened at $263.08 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a twelve month low of $225.88 and a twelve month high of $271.15. The business’s fifty day moving average is $255.59 and its 200-day moving average is $247.41. The company has a market cap of $77.69 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 3.97 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 earnings per share. Equities research analysts forecast that Illinois Tool Works will post 10.63 EPS for the current year.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairscale Capital LLC bought a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. increased its holdings in Illinois Tool Works by 261.4% during the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after buying an additional 115 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.