Illinois Tool Works (NYSE:ITW) Price Target Cut to $262.00 by Analysts at Barclays

Illinois Tool Works (NYSE:ITW) had its price objective trimmed by Barclays from $265.00 to $262.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

ITW has been the topic of several other research reports. Truist Financial increased their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. 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. Citigroup lowered their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $271.00.

Illinois Tool Works Stock Up 0.3 %

Shares of Illinois Tool Works stock opened at $255.77 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $260.34 and a 200 day moving average price of $257.11. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a market cap of $75.53 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. On average, sell-side analysts forecast that Illinois Tool Works will post 10.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ITW. Dynamic Advisor Solutions LLC raised its stake in shares of Illinois Tool Works by 2.0% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,552 shares of the industrial products company’s stock worth $1,193,000 after buying an additional 88 shares in the last quarter. CWM LLC raised its position in Illinois Tool Works by 6.9% in the third quarter. CWM LLC now owns 18,955 shares of the industrial products company’s stock worth $4,968,000 after acquiring an additional 1,231 shares in the last quarter. Wedmont Private Capital lifted its holdings in Illinois Tool Works by 3.0% in the 3rd quarter. Wedmont Private Capital now owns 2,677 shares of the industrial products company’s stock valued at $685,000 after acquiring an additional 77 shares during the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Illinois Tool Works by 5.2% during the 3rd quarter. Quotient Wealth Partners LLC now owns 1,041 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 51 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC raised its holdings in shares of Illinois Tool Works by 1.7% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 3,987 shares of the industrial products company’s stock worth $1,045,000 after purchasing an additional 67 shares in the last quarter. 79.77% of the stock is currently owned by 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.