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

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

Several other research analysts also recently issued reports on the company. Wells Fargo & Company cut their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday. Stifel Nicolaus cut their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Jefferies Financial Group raised their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has an average rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Stock Up 0.3 %

ITW opened at $255.77 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. The company has a market cap of $75.53 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 4.79 and a beta of 1.11. Illinois Tool Works has a one year low of $232.77 and a one year high of $279.13. The business’s fifty day moving average is $259.91 and its two-hundred day moving average is $257.28.

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

Institutional Trading of Illinois Tool Works

Institutional investors have recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC increased its stake in Illinois Tool Works by 2.0% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,552 shares of the industrial products company’s stock worth $1,193,000 after acquiring an additional 88 shares during the last quarter. CWM LLC increased its position in Illinois Tool Works by 6.9% during the 3rd quarter. CWM LLC now owns 18,955 shares of the industrial products company’s stock worth $4,968,000 after purchasing an additional 1,231 shares in the last quarter. Wedmont Private Capital raised its holdings in Illinois Tool Works by 3.0% in the third quarter. Wedmont Private Capital now owns 2,677 shares of the industrial products company’s stock valued at $685,000 after buying an additional 77 shares during the period. Quotient Wealth Partners LLC lifted its position in Illinois Tool Works by 5.2% during the third quarter. Quotient Wealth Partners LLC now owns 1,041 shares of the industrial products company’s stock valued at $273,000 after buying an additional 51 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its stake in Illinois Tool Works by 1.7% during the third quarter. Franklin Street Advisors Inc. NC now owns 3,987 shares of the industrial products company’s stock worth $1,045,000 after buying an additional 67 shares during the period. 79.77% of the stock is owned by hedge funds and other 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.