Illinois Tool Works (NYSE:ITW – Get Rating) had its price objective decreased by research analysts at Barclays from $180.00 to $167.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target would indicate a potential downside of 8.38% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Morgan Stanley dropped their target price on Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating for the company in a research report on Tuesday, May 31st. Credit Suisse Group cut their target price on shares of Illinois Tool Works from $267.00 to $261.00 in a research report on Wednesday, May 4th. StockNews.com started coverage on shares of Illinois Tool Works in a research report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $262.00 to $255.00 in a report on Monday, March 28th. Finally, Stifel Nicolaus cut their target price on Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating on the stock in a report on Monday, April 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $220.64.
ITW stock opened at $182.27 on Friday. The firm has a 50-day moving average price of $196.65 and a 200-day moving average price of $212.23. Illinois Tool Works has a 12 month low of $177.03 and a 12 month high of $249.81. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $56.77 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09.
Illinois Tool Works (NYSE:ITW – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.11 EPS for the quarter, beating the consensus estimate of $2.07 by $0.04. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.76 billion. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. As a group, equities analysts predict that Illinois Tool Works will post 9.16 EPS for the current fiscal year.
In other Illinois Tool Works news, EVP Lei Zhang Schlitz sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total value of $205,340.00. Following the completion of the sale, the executive vice president now owns 7,803 shares of the company’s stock, valued at $1,602,268.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter worth about $28,000. Allegheny Financial Group LTD bought a new stake in Illinois Tool Works during the fourth quarter worth $29,000. Amplius Wealth Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at $30,000. Capital Advisory Group Advisory Services LLC bought a new position in Illinois Tool Works during the 1st quarter valued at $31,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in Illinois Tool Works during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.
About Illinois Tool Works (Get Rating)
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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