Illinois Tool Works (NYSE:ITW) Given New $230.00 Price Target at Barclays

by · The Markets Daily

Illinois Tool Works (NYSE:ITW – Free Report) had its target price upped by Barclays from $215.00 to $230.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an underweight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Truist Financial raised their price target on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price target on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI decreased their price target on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group decreased their price target on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works currently has an average rating of “Hold” and a consensus price target of $256.40.

Read Our Latest Stock Analysis on Illinois Tool Works

Illinois Tool Works Trading Up 0.7 %

NYSE:ITW traded up $1.95 on Friday, reaching $263.08. The company’s stock had a trading volume of 882,591 shares, compared to its average volume of 1,065,022. Illinois Tool Works has a 1-year low of $225.88 and a 1-year high of $271.15. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.92 and a current ratio of 1.36. The firm has a market cap of $78.11 billion, a PE ratio of 22.76, a PEG ratio of 4.21 and a beta of 1.10. The business’s 50-day moving average price is $255.59 and its two-hundred day moving average price is $247.43.

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 for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. Illinois Tool Works’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 earnings per share. Equities research analysts anticipate that Illinois Tool Works will post 10.16 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.28%. Illinois Tool Works’s payout ratio is currently 51.90%.

Institutional Trading of Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in the company. PEAK6 Investments LLC raised its holdings in Illinois Tool Works by 17.5% in the 1st quarter. PEAK6 Investments LLC now owns 942 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 140 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Illinois Tool Works in the 1st quarter valued at $1,147,000. Envestnet Portfolio Solutions Inc. raised its holdings in Illinois Tool Works by 78.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 36,921 shares of the industrial products company’s stock valued at $9,907,000 after acquiring an additional 16,216 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Illinois Tool Works by 7.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock valued at $37,999,000 after acquiring an additional 9,825 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Illinois Tool Works by 28.6% in the 1st quarter. Russell Investments Group Ltd. now owns 201,720 shares of the industrial products company’s stock valued at $54,122,000 after acquiring an additional 44,898 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

(Get Free Report)

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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