Jefferies Financial Group Forecasts Strong Price Appreciation for Illinois Tool Works (NYSE:ITW) Stock

Illinois Tool Works (NYSE:ITW) had its price objective upped by analysts at Jefferies Financial Group from $255.00 to $290.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 6.02% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. Truist Financial upped their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. 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 report on Wednesday, October 16th. Finally, Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $266.30.

Illinois Tool Works Trading Down 0.6 %

NYSE ITW opened at $273.53 on Friday. The stock has a 50-day moving average of $265.95 and a 200-day moving average of $251.68. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a market cap of $80.77 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. 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 firm posted $2.55 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Illinois Tool Works will post 10.13 EPS for the current year.

Institutional Trading of Illinois Tool Works

A number of hedge funds have recently made changes to their positions in ITW. QRG Capital Management Inc. boosted its holdings in Illinois Tool Works by 0.6% in the second quarter. QRG Capital Management Inc. now owns 13,469 shares of the industrial products company’s stock worth $3,192,000 after acquiring an additional 84 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in Illinois Tool Works by 177.5% in the 2nd quarter. Gateway Investment Advisers LLC now owns 7,251 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 4,638 shares in the last quarter. Czech National Bank grew its position in Illinois Tool Works by 8.1% during the 2nd quarter. Czech National Bank now owns 51,746 shares of the industrial products company’s stock valued at $12,262,000 after purchasing an additional 3,897 shares during the last quarter. Crestmont Private Wealth LLC increased its stake in Illinois Tool Works by 26.0% during the 2nd quarter. Crestmont Private Wealth LLC now owns 2,415 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 498 shares in the last quarter. Finally, Brady Family Wealth LLC lifted its stake in shares of Illinois Tool Works by 2.5% in the second quarter. Brady Family Wealth LLC now owns 17,482 shares of the industrial products company’s stock worth $4,143,000 after buying an additional 431 shares in the last quarter. 79.77% of the stock is owned by 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.