Barclays Issues Pessimistic Forecast for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its target price reduced by research analysts at Barclays from $265.00 to $262.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective points to a potential upside of 2.43% from the stock’s previous close.

Other analysts have also issued reports about the stock. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday. JPMorgan Chase & Co. dropped 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 report on Monday. Truist Financial increased their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group increased their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Trading Up 0.3 %

NYSE ITW traded up $0.68 during trading on Friday, hitting $255.77. 1,053,714 shares of the company’s stock traded hands, compared to its average volume of 998,573. The stock has a fifty day moving average of $260.34 and a two-hundred day moving average of $257.11. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.53 billion, a P/E ratio of 22.13, a PEG ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, sell-side analysts expect that Illinois Tool Works will post 10.14 EPS for the current year.

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Illinois Tool Works during the fourth quarter valued at approximately $203,949,000. Proficio Capital Partners LLC lifted its holdings in shares of Illinois Tool Works by 36,632.9% during the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after purchasing an additional 437,397 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after purchasing an additional 322,192 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Illinois Tool Works by 318.9% during the third quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after purchasing an additional 308,935 shares during 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.