Illinois Tool Works (ITW) Stock Forecast & Price Target

$254.85

-3.11 (-1.21%)

(As of 10:33 AM ET)

Illinois Tool Works - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold
Based on 10 Analyst Ratings

Based on 10 Wall Street analysts who have issued ratings for Illinois Tool Works in the last 12 months, the stock has a consensus rating of "Hold." Out of the 10 analysts, 3 have given a sell rating, 4 have given a hold rating, 2 have given a buy rating, and 1 has given a strong buy rating for ITW.

Consensus Price Target

$250.22
-1.82% Downside

High Forecast	$281.00
Average Forecast	$250.22
Low Forecast	$215.00

According to the 10 analysts' twelve-month price targets for Illinois Tool Works, the average price target is $250.22. The highest price target for ITW is $281.00, while the lowest price target for ITW is $215.00. The average price target represents a forecasted downside of -1.82% from the current price of $254.85.

Type	Current Forecast 9/21/23 to 9/20/24	1 Month Ago 8/22/23 to 8/21/24	3 Months Ago 6/23/23 to 6/22/24	1 Year Ago 9/21/22 to 9/21/23
Consensus Rating	Hold	Hold	Reduce	Reduce
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	2 Buy rating(s)	2 Buy rating(s)	3 Buy rating(s)	1 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	2 Hold rating(s)	7 Hold rating(s)
Sell	3 Sell rating(s)	3 Sell rating(s)	4 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$250.22	$250.22	$256.44	$237.18
Forecasted Upside	-1.82% Downside	0.51% Upside	3.35% Upside	-0.77% Downside

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ITW Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ITW Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Illinois Tool Works Stock vs. The Competition

Type	Illinois Tool Works	Industrial Products Companies	S&P 500
Consensus Rating Score	2.10	2.55	2.50
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	-3.00% Downside	37.99% Upside	6.73% Upside
News Sentiment Rating	Positive News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/19/2024	Evercore ISI 2 of 5 stars	D. Raso Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	In-Line ➝ In-Line	$251.00 ➝ $246.00	+1.71%
7/31/2024	Argus 3 of 5 stars	J. Eade Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/31/2024	Barclays 3 of 5 stars		Lower Target	Underweight ➝ Underweight	$217.00 ➝ $215.00	-13.30%
7/31/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$267.00 ➝ $270.00	+8.11%
7/31/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underweight ➝ Underweight	$230.00 ➝ $236.00	-5.21%
7/31/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$268.00 ➝ $260.00	+4.93%
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7/31/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$283.00 ➝ $281.00	+14.22%
7/11/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$275.00 ➝ $240.00	+0.09%
4/8/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$258.00 ➝ $269.00	+2.66%
1/10/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Neutral ➝ Underperform	$260.00 ➝ $235.00	-8.35%
8/3/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underweight ➝ Underweight	$230.00 ➝ $232.00	-7.09%
8/2/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$281.00 ➝ $292.00	+15.94%
5/3/2023	3M Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
4/12/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sell	$183.00 ➝ $181.00	-21.50%
2/9/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$213.00 ➝ $245.00	+3.49%
2/2/2023	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$222.00 ➝ $255.00	+1.78%
1/3/2023	Vertical Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$240.00 ➝ $220.00	-0.14%
12/15/2022	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$210.00 ➝ $238.00	+7.71%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 10:49 AM ET.

ITW Forecast - Frequently Asked Questions

What is Illinois Tool Works' forecast for 2024?: According to the research reports of 10 Wall Street equities research analysts, the average twelve-month stock price forecast for Illinois Tool Works is $250.22, with a high forecast of $281.00 and a low forecast of $215.00.
Should I buy or sell Illinois Tool Works stock right now?: 10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Illinois Tool Works in the last year. There are currently 3 sell ratings, 4 hold ratings, 2 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" ITW shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ITW, but not buy additional shares or sell existing shares.
Does Illinois Tool Works's stock price have much upside?: According to analysts, Illinois Tool Works's stock has a predicted upside of 0.51% based on their 12-month stock forecasts.
Has Illinois Tool Works been upgraded by Wall Street analysts recently?: Over the previous 90 days, Illinois Tool Works's stock had 1 upgrade by analysts.
What analysts cover Illinois Tool Works?: Illinois Tool Works has been rated by research analysts at Argus, Barclays, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Stifel Nicolaus, Truist Financial, and Wells Fargo & Company in the past 90 days.
Do Wall Street analysts like Illinois Tool Works more than its competitors?: Analysts like Illinois Tool Works less than other "industrial products" companies. The consensus rating for Illinois Tool Works is Hold while the average consensus rating for "industrial products" companies is Moderate Buy. Learn more on how ITW compares to other companies.