Illinois Tool Works (NYSE:ITW) PT Raised to $312.00

Illinois Tool Works (NYSE:ITW) had its target price increased by research analysts at Truist Financial from $281.00 to $312.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 21.48% from the company’s current price.

Several other analysts also recently weighed in on ITW. Barclays dropped their price target on Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Evercore ISI dropped their target price on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Argus raised shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given 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 currently has an average rating of “Hold” and an average price target of $255.22.

Illinois Tool Works Stock Performance

ITW opened at $256.83 on Wednesday. The company has a market cap of $76.64 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10. The company has a quick ratio of 0.92, a current ratio of 1.30 and a debt-to-equity ratio of 2.17. The firm’s 50-day moving average price is $249.50 and its 200-day moving average price is $247.75. Illinois Tool Works has a 52-week low of $217.50 and a 52-week high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $2.41 EPS. Illinois Tool Works’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Illinois Tool Works will post 10.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Financial Connections Group Inc. purchased a new position in shares of Illinois Tool Works in the 2nd quarter valued at about $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at approximately $34,000. General Partner Inc. acquired a new stake in Illinois Tool Works in the 1st quarter valued at $35,000. Finally, Rise Advisors LLC purchased a new stake in Illinois Tool Works in the 1st quarter worth $35,000. Institutional investors and hedge funds 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.