Illinois Tool Works (NYSE:ITW) Price Target Raised to $250.00 at Robert W. Baird

Illinois Tool Works (NYSE:ITW) had its target price boosted by analysts at Robert W. Baird from $240.00 to $250.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential downside of 4.97% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. Truist Financial boosted their target price on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays dropped their price target on shares of 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. Stifel Nicolaus upped their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Evercore ISI lowered their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $256.40.

Illinois Tool Works Trading Up 0.7 %

NYSE:ITW opened at $263.08 on Thursday. The company has a market capitalization of $78.11 billion, a P/E ratio of 22.76, a PEG ratio of 4.21 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 12 month low of $225.88 and a 12 month high of $271.15. The firm has a fifty day simple moving average of $255.59 and a 200-day simple moving average of $247.43.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 EPS. On average, equities research analysts anticipate that Illinois Tool Works will post 10.16 earnings per share 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 company. PEAK6 Investments LLC grew its holdings in shares of Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 140 shares during the period. GSA Capital Partners LLP purchased a new position in Illinois Tool Works during the first quarter worth about $1,147,000. Envestnet Portfolio Solutions Inc. increased its position in shares of Illinois Tool Works by 78.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after acquiring an additional 9,825 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Illinois Tool Works by 28.6% during the 1st quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock worth $54,122,000 after purchasing an additional 44,898 shares during the period. 79.77% of the stock is owned by hedge funds and other 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.