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

Illinois Tool Works (NYSE:ITW) had its price objective hoisted by analysts at Barclays from $215.00 to $230.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Barclays‘s target price would suggest a potential downside of 12.82% from the company’s current price.

Several other research analysts also recently commented on the stock. Evercore ISI cut their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Jefferies Financial Group reduced their target price on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus boosted their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $256.40.

Illinois Tool Works Stock Up 1.0 %

ITW stock traded up $2.69 during trading on Friday, reaching $263.82. The stock had a trading volume of 513,958 shares, compared to its average volume of 1,063,083. The company has a quick ratio of 0.92, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $78.33 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.21 and a beta of 1.10. Illinois Tool Works has a one year low of $225.88 and a one year high of $271.15. The company’s 50 day moving average is $255.27 and its two-hundred day moving average is $247.37.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities research analysts forecast that Illinois Tool Works will post 10.16 EPS for the current year.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC bought a new position in Illinois Tool Works in the third quarter valued at about $2,672,000. Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of Illinois Tool Works in the third quarter worth approximately $202,000. Capital Performance Advisors LLP bought a new stake in Illinois Tool Works during the third quarter valued at approximately $69,000. Philip James Wealth Mangement LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth $621,000. Finally, Tandem Investment Advisors Inc. increased its position in Illinois Tool Works by 10.6% in the third quarter. Tandem Investment Advisors Inc. now owns 952 shares of the industrial products company’s stock worth $249,000 after buying an additional 91 shares in the last quarter. 79.77% of the stock is 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.