Illinois Tool Works (NYSE:ITW) Price Target Raised to $232.00

Illinois Tool Works (NYSE:ITWGet Rating) had its price target lifted by Citigroup from $202.00 to $232.00 in a note issued to investors on Friday, The Fly reports. Citigroup’s target price would suggest a potential upside of 4.83% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group increased their price target on Illinois Tool Works from $229.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, October 26th. Stifel Nicolaus dropped their price objective on shares of Illinois Tool Works from $192.00 to $188.00 and set a “hold” rating on the stock in a report on Tuesday, October 11th. Bank of America restated a “neutral” rating and issued a $220.00 target price on shares of Illinois Tool Works in a research note on Wednesday, August 24th. Morgan Stanley upped their price target on Illinois Tool Works from $165.00 to $172.00 and gave the stock an “underweight” rating in a research note on Thursday, October 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Illinois Tool Works from $165.00 to $171.00 in a research note on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $204.31.

Illinois Tool Works Trading Up 0.6 %

ITW opened at $221.32 on Friday. Illinois Tool Works has a twelve month low of $173.52 and a twelve month high of $249.81. The company has a fifty day moving average of $210.26 and a 200-day moving average of $201.24. The stock has a market cap of $67.99 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 3.30 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.41 and a debt-to-equity ratio of 1.97.

Illinois Tool Works (NYSE:ITWGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.10. The firm had revenue of $4.01 billion during the quarter, compared to the consensus estimate of $3.90 billion. Illinois Tool Works had a return on equity of 80.65% and a net margin of 17.49%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $2.02 EPS. On average, sell-side analysts predict that Illinois Tool Works will post 9.46 EPS for the current year.

Institutional Trading of Illinois Tool Works

Institutional investors and hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $26,000. CNB Bank grew its holdings in shares of Illinois Tool Works by 723.1% in the second quarter. CNB Bank now owns 214 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 188 shares in the last quarter. Standard Family Office LLC bought a new stake in Illinois Tool Works during the third quarter worth $39,000. Old North State Trust LLC purchased a new position in Illinois Tool Works in the third quarter worth $42,000. Finally, JFS Wealth Advisors LLC grew its stake in Illinois Tool Works by 51.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 237 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 79.68% of the company’s stock.

About Illinois Tool Works

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Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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