Evercore ISI Lowers Illinois Tool Works (NYSE:ITW) Price Target to $252.00

Illinois Tool Works (NYSE:ITW) had its price objective decreased by analysts at Evercore ISI from $255.00 to $252.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the industrial products company’s stock. Evercore ISI’s price target suggests a potential downside of 5.05% from the company’s previous close.

ITW has been the topic of a number of other research reports. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stifel Nicolaus lowered their price target on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Citigroup cut their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial boosted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Trading Up 0.5 %

Shares of ITW stock opened at $265.42 on Wednesday. The business has a 50-day moving average of $257.23 and a 200 day moving average of $258.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The stock has a market capitalization of $77.90 billion, a PE ratio of 22.65, a P/E/G ratio of 4.49 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, sell-side analysts anticipate that Illinois Tool Works will post 10.41 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

A number of hedge funds have recently modified their holdings of the business. Pensionfund Sabic boosted its stake in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after acquiring an additional 2,000 shares in 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. Clark & Stuart Inc bought a new stake in shares of Illinois Tool Works in the 4th quarter worth approximately $1,729,000. Czech National Bank boosted its position in shares of Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $1,179,000. Institutional investors 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.