Illinois Tool Works (NYSE:ITW) PT Lowered to $215.00 at Barclays

Illinois Tool Works (NYSE:ITW) had its target price lowered by Barclays from $217.00 to $215.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the industrial products company’s stock.

A number of other analysts have also recently commented on ITW. StockNews.com upgraded Illinois Tool Works from a hold rating to a buy rating in a research report on Saturday, July 20th. Citigroup raised their price target on Illinois Tool Works from $258.00 to $269.00 and gave the stock a neutral rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an overweight rating in a report on Wednesday. Stifel Nicolaus lowered their price target on Illinois Tool Works from $268.00 to $260.00 and set a hold rating on the stock in a report on Wednesday. Finally, Truist Financial lowered their price target on Illinois Tool Works from $283.00 to $281.00 and set a buy rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $248.67.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $243.86 on Wednesday. The business’s fifty day moving average price is $240.94 and its 200 day moving average price is $251.06. The firm has a market capitalization of $72.77 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.80 and a beta of 1.10. Illinois Tool Works has a 12 month low of $217.50 and a 12 month high of $271.15. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.94.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $2.41 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Illinois Tool Works will post 10.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $238.82 per share, with a total value of $185,085.50. Following the purchase, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors have recently modified their holdings of the company. Steele Capital Management Inc. boosted its stake in shares of Illinois Tool Works by 4.9% during the 2nd quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 40 shares in the last quarter. Summit Financial LLC boosted its stake in shares of Illinois Tool Works by 1.6% during the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 41 shares in the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of Illinois Tool Works by 4.6% during the 1st quarter. Hanson & Doremus Investment Management now owns 958 shares of the industrial products company’s stock worth $257,000 after acquiring an additional 42 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Illinois Tool Works by 1.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock worth $1,178,000 after purchasing an additional 42 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its position in shares of Illinois Tool Works by 2.5% during the 4th quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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.