Illinois Tool Works Inc. (NYSE:ITW) Receives $270.11 Average PT from Brokerages

Illinois Tool Works Inc. (NYSE:ITW) has earned an average rating of “Hold” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $269.89.

A number of research analysts have commented on ITW shares. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup cut their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company decreased 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.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $259.83 on Monday. 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 company has a market capitalization of $76.73 billion, a PE ratio of 22.48, a P/E/G ratio of 3.60 and a beta of 1.11. The company has a 50 day moving average price of $263.22 and a 200-day moving average price of $256.12. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results 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. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $2.55 EPS. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Illinois Tool Works by 1.2% in the 3rd quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after purchasing an additional 149,272 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock worth $1,645,972,000 after buying an additional 167,422 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works by 4.2% during the third quarter. Fisher Asset Management LLC now owns 3,347,326 shares of the industrial products company’s stock worth $877,234,000 after buying an additional 135,023 shares during the period. Legal & General Group Plc grew its holdings in shares of Illinois Tool Works by 2.4% during the second quarter. Legal & General Group Plc now owns 2,702,683 shares of the industrial products company’s stock valued at $640,425,000 after buying an additional 62,645 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Illinois Tool Works by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,849,448 shares of the industrial products company’s stock valued at $484,685,000 after acquiring an additional 32,656 shares during the period. Institutional investors and hedge funds 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.