Illinois Tool Works (NYSE:ITW) PT Lowered to $246.00

Illinois Tool Works (NYSE:ITW) had its price objective decreased by research analysts at Evercore ISI from $251.00 to $246.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has an “in-line” rating on the industrial products company’s stock. Evercore ISI’s price objective would indicate a potential upside of 1.07% from the company’s previous close.

ITW has been the topic of a number of other reports. Wells Fargo & Company raised their price target on Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a report on Wednesday, July 31st. Truist Financial lowered their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Jefferies Financial Group lowered their target price on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, Argus raised Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $250.22.

Illinois Tool Works Stock Performance

ITW stock opened at $243.40 on Monday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.94 and a current ratio of 1.30. The stock has a market capitalization of $72.63 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 3.80 and a beta of 1.10. Illinois Tool Works has a 1 year low of $217.50 and a 1 year high of $271.15. The stock’s fifty day moving average is $240.97 and its two-hundred day moving average is $249.38.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.08 billion. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $2.41 earnings per share. On average, research analysts predict that Illinois Tool Works will post 10.25 EPS for the current year.

Insider Activity at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the transaction, the director now directly owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors have recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. boosted its position in Illinois Tool Works by 1.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,071 shares of the industrial products company’s stock worth $1,590,000 after acquiring an additional 84 shares during the period. PEAK6 Investments LLC boosted its position in Illinois Tool Works by 17.5% during the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 140 shares during the period. GSA Capital Partners LLP acquired a new stake in Illinois Tool Works during the 1st quarter worth about $1,147,000. Norden Group LLC boosted its position in Illinois Tool Works by 1,889.1% during the 1st quarter. Norden Group LLC now owns 26,475 shares of the industrial products company’s stock worth $7,103,000 after acquiring an additional 25,144 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Illinois Tool Works by 6.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 213,106 shares of the industrial products company’s stock valued at $55,821,000 after buying an additional 12,065 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.