Brokerages Set Illinois Tool Works Inc. (NYSE:ITW) Price Target at $241.00

Shares of Illinois Tool Works Inc. (NYSE:ITWGet Free Report) have received a consensus rating of “Reduce” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $239.90.

ITW has been the subject of several research reports. Barclays increased their price target on shares of Illinois Tool Works from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Monday. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $260.00 to $235.00 in a research note on Wednesday, January 10th. Citigroup increased their price objective on shares of Illinois Tool Works from $244.00 to $256.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $238.00 to $239.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company downgraded shares of Illinois Tool Works from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $277.00 to $240.00 in a research report on Tuesday.

Read Our Latest Stock Report on ITW

Illinois Tool Works Stock Down 0.7 %

Shares of NYSE ITW opened at $254.01 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. Illinois Tool Works has a 12 month low of $217.06 and a 12 month high of $267.12. The firm has a market capitalization of $76.43 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 4.37 and a beta of 1.15. The firm has a fifty day simple moving average of $256.24 and a two-hundred day simple moving average of $244.21.

Illinois Tool Works (NYSE:ITWGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.01. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. Illinois Tool Works’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. Equities analysts expect that Illinois Tool Works will post 10.12 earnings per share for the current year.

Insider Activity

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $254.83, for a total value of $12,741,500.00. Following the transaction, the chairman now directly owns 221,015 shares of the company’s stock, valued at $56,321,252.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

A number of hedge funds have recently modified their holdings of the business. Cornerstone Wealth Management LLC lifted its stake in Illinois Tool Works by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 41 shares during the last quarter. Summit Financial LLC grew its holdings 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 valued at $685,000 after purchasing an additional 41 shares during the last quarter. V Wealth Advisors LLC grew its holdings in shares of Illinois Tool Works by 3.3% during the 2nd quarter. V Wealth Advisors LLC now owns 1,347 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 43 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in 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 buying an additional 43 shares during the period. Finally, Ropes Wealth Advisors LLC lifted its position in shares of Illinois Tool Works by 0.5% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 9,794 shares of the industrial products company’s stock worth $2,450,000 after purchasing an additional 44 shares during the period. Institutional investors own 79.56% of the company’s stock.

About Illinois Tool Works

(Get Free Report

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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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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