Robert W. Baird Reiterates “$213.00” Price Target for Illinois Tool Works (NYSE:ITW)

Illinois Tool Works (NYSE:ITWGet Rating) has been given a $213.00 target price by equities research analysts at Robert W. Baird in a note issued to investors on Tuesday, The Fly reports. Robert W. Baird’s price target would indicate a potential upside of 3.95% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Illinois Tool Works from $187.00 to $182.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 31st. Barclays reduced their price objective on shares of Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a research note on Friday, July 8th. Stifel Nicolaus cut their price target on shares of Illinois Tool Works from $206.00 to $163.00 in a research note on Monday, July 18th. Wells Fargo & Company cut their price target on shares of Illinois Tool Works from $185.00 to $180.00 in a research note on Tuesday, July 12th. Finally, Jefferies Financial Group cut their price target on shares of Illinois Tool Works from $235.00 to $195.00 in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $201.83.

Illinois Tool Works Trading Down 1.2 %

Shares of ITW opened at $204.90 on Tuesday. The firm’s 50-day moving average is $191.61 and its two-hundred day moving average is $205.79. The firm has a market capitalization of $63.81 billion, a P/E ratio of 24.08, a PEG ratio of 2.29 and a beta of 1.11. Illinois Tool Works has a twelve month low of $173.52 and a twelve month high of $249.81. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITWGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.22 by $0.15. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.98 billion. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 earnings per share. On average, research analysts predict that Illinois Tool Works will post 9.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Illinois Tool Works

In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total transaction of $205,340.00. Following the sale, the executive vice president now directly owns 7,803 shares in the company, valued at approximately $1,602,268.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Illinois Tool Works

Hedge funds have recently made changes to their positions in the business. National Asset Management Inc. raised its stake in shares of Illinois Tool Works by 1.9% during the fourth quarter. National Asset Management Inc. now owns 2,687 shares of the industrial products company’s stock valued at $664,000 after purchasing an additional 50 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $10,704,000. CWM LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $2,746,000. Ieq Capital LLC raised its stake in shares of Illinois Tool Works by 1.2% in the 4th quarter. Ieq Capital LLC now owns 5,302 shares of the industrial products company’s stock worth $1,309,000 after buying an additional 61 shares in the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Illinois Tool Works in the 4th quarter worth $555,000. Institutional investors own 79.03% of the company’s stock.

Illinois Tool Works Company Profile

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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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