Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Rating of “Hold” by Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have received a consensus rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $269.89.

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a report on Friday.

Institutional Trading of Illinois Tool Works

Large investors have recently made changes to their positions in the business. Intech Investment Management LLC lifted its holdings in shares of Illinois Tool Works by 27.5% in the 2nd quarter. Intech Investment Management LLC now owns 26,522 shares of the industrial products company’s stock worth $6,285,000 after acquiring an additional 5,716 shares during the last quarter. AE Wealth Management LLC lifted its stake in Illinois Tool Works by 32.8% in the second quarter. AE Wealth Management LLC now owns 3,490 shares of the industrial products company’s stock worth $827,000 after purchasing an additional 862 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Illinois Tool Works by 9.5% during the second quarter. Pacer Advisors Inc. now owns 35,325 shares of the industrial products company’s stock valued at $8,371,000 after buying an additional 3,071 shares during the period. Sei Investments Co. grew its stake in shares of Illinois Tool Works by 21.3% during the second quarter. Sei Investments Co. now owns 71,084 shares of the industrial products company’s stock valued at $16,843,000 after buying an additional 12,496 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Illinois Tool Works by 71.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 34,889 shares of the industrial products company’s stock worth $8,267,000 after acquiring an additional 14,564 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $259.83 on Monday. The stock has a market cap of $76.73 billion, a P/E ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock’s fifty day moving average is $263.22 and its 200 day moving average is $256.12. Illinois Tool Works has a one year low of $232.77 and a one year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share 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 analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 EPS. Sell-side analysts anticipate that Illinois Tool Works will post 10.13 earnings per share for the current year.

Illinois Tool Works Company Profile

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.