JPMorgan Chase & Co. Lowers Illinois Tool Works (NYSE:ITW) Price Target to $295.00

Illinois Tool Works (NYSE:ITW) had its price target reduced by JPMorgan Chase & Co. from $300.00 to $295.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts have also recently issued reports about the company. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Robert W. Baird lifted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup decreased their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial increased their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $272.67.

Illinois Tool Works Trading Down 0.1 %

Shares of Illinois Tool Works stock opened at $254.40 on Monday. The company has a market cap of $75.12 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The company’s fifty day simple moving average is $261.20 and its 200-day simple moving average is $257.14. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, sell-side analysts expect that Illinois Tool Works will post 10.14 EPS for the current year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently bought and sold shares of the business. Pensionfund Sabic lifted its position in Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after buying an additional 2,000 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. Clark & Stuart Inc acquired a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $1,729,000. Czech National Bank raised its position in Illinois Tool Works by 5.9% in the 4th quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at $1,179,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Company Profile

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.