Illinois Tool Works (NYSE:ITW) Price Target Lowered to $192.00 at Barclays

Illinois Tool Works (NYSE:ITWGet Rating) had its price objective dropped by Barclays from $200.00 to $192.00 in a report issued on Wednesday, The Fly reports. Barclays‘s target price would suggest a potential downside of 5.97% from the company’s current price.

Several other research firms have also recently issued reports on ITW. Deutsche Bank Aktiengesellschaft cut their price objective on Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. JPMorgan Chase & Co. upgraded Illinois Tool Works from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $262.00 to $255.00 in a research report on Monday, March 28th. StockNews.com assumed coverage on Illinois Tool Works in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Stifel Nicolaus dropped their price target on Illinois Tool Works from $242.00 to $202.00 and set a “hold” rating for the company in a research report on Monday, April 18th. Finally, Morgan Stanley dropped their price target on Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a research report on Thursday, April 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $235.42.

NYSE:ITW opened at $204.20 on Wednesday. The stock has a fifty day moving average price of $207.16 and a two-hundred day moving average price of $225.21. The stock has a market capitalization of $63.69 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.35 and a current ratio of 1.84. Illinois Tool Works has a 1 year low of $195.25 and a 1 year high of $249.81.

Illinois Tool Works (NYSE:ITWGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Illinois Tool Works had a return on equity of 74.43% and a net margin of 18.64%. Illinois Tool Works’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.11 earnings per share. On average, analysts predict that Illinois Tool Works will post 9.11 EPS for the current year.

In other Illinois Tool Works news, CEO Ernest Scott Santi sold 148,789 shares of the firm’s stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $231.44, for a total value of $34,435,726.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Ritter Daniher Financial Advisory LLC acquired a new stake in Illinois Tool Works in the 4th quarter worth about $28,000. Allegheny Financial Group LTD acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $29,000. Amplius Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $30,000. FSB Premier Wealth Management Inc. acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at about $32,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $28,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

About Illinois Tool Works (Get Rating)

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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