Illinois Tool Works (NYSE:ITW) Stock Price Expected to Rise, Barclays Analyst Says

Illinois Tool Works (NYSE:ITW - Get Free Report) had its price target hoisted by research analysts at Barclays from $215.00 to $230.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an "underweight" rating on the industrial products company's stock. Barclays's price target would indicate a potential downside of 12.82% from the stock's previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research note on Thursday. Robert W. Baird boosted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, Truist Financial raised their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $256.40.

Illinois Tool Works Stock Up 1.0 %

Shares of ITW stock traded up $2.69 on Friday, hitting $263.82. 513,958 shares of the stock were exchanged, compared to its average volume of 1,063,083. The business has a 50-day moving average of $255.27 and a 200 day moving average of $247.37. Illinois Tool Works has a fifty-two week low of $225.88 and a fifty-two week high of $271.15. The firm has a market capitalization of $78.33 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 4.21 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.92 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.55 earnings per share. Equities analysts anticipate that Illinois Tool Works will post 10.16 EPS for the current year.

Hedge Funds Weigh In On Illinois Tool Works

A number of hedge funds have recently bought and sold shares of ITW. Nikulski Financial Inc. raised its stake in Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after buying an additional 39 shares during the period. Steele Capital Management Inc. raised its holdings in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company's stock worth $206,000 after buying an additional 40 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Illinois Tool Works by 1.0% in the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company's stock valued at $1,178,000 after buying an additional 42 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Illinois Tool Works by 2.7% during the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company's stock worth $422,000 after acquiring an additional 43 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 3.0% in the 1st quarter. Proficio Capital Partners LLC now owns 1,490 shares of the industrial products company's stock valued at $400,000 after acquiring an additional 44 shares in the last quarter. 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.

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