Illinois Tool Works (NYSE:ITW) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Illinois Tool Works (NYSE:ITW) had its price objective increased by research analysts at Robert W. Baird from $240.00 to $250.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 5.36% from the company’s previous close.

Several other research analysts have also commented on ITW. JPMorgan Chase & Co. lifted their price target on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com lowered Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Stifel Nicolaus lifted their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI reduced their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Three 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $254.90.

Illinois Tool Works Trading Up 3.2 %

Shares of NYSE:ITW opened at $264.16 on Thursday. Illinois Tool Works has a 1 year low of $221.82 and a 1 year high of $271.15. The firm has a market capitalization of $78.43 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The business’s 50 day moving average price is $254.96 and its 200-day moving average price is $247.27.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. On average, equities research analysts forecast that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illinois Tool Works

Large investors have recently added to or reduced their stakes in the business. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $30,000. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works in the 3rd quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. increased its position in shares of Illinois Tool Works by 261.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the last quarter. 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.