Illinois Tool Works (NYSE:ITW) Price Target Raised to $235.00 at Wells Fargo & Company

Illinois Tool Works (NYSE:ITW - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $230.00 to $235.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the industrial products company's stock. Wells Fargo & Company's price target points to a potential downside of 7.89% from the stock's current price.

Other analysts have also recently issued reports about the company. UBS Group decreased their target price on shares of Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Barclays decreased their price objective on shares of Illinois Tool Works from $240.00 to $237.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Stifel Nicolaus increased their price target on Illinois Tool Works from $227.00 to $233.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, Evercore ISI dropped their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $252.58.

Illinois Tool Works Trading Up 3.2%

NYSE ITW traded up $7.87 on Tuesday, hitting $255.12. The company's stock had a trading volume of 1,317,758 shares, compared to its average volume of 995,064. The company's 50-day moving average is $244.22 and its 200 day moving average is $249.62. The firm has a market cap of $74.75 billion, a PE ratio of 24.46, a PEG ratio of 5.32 and a beta of 1.09. Illinois Tool Works has a 1-year low of $214.66 and a 1-year high of $279.13. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. Illinois Tool Works's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, analysts predict that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 872 shares of Illinois Tool Works stock in a transaction dated Monday, June 2nd. The stock was purchased at an average cost of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company's stock.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Illinois Tool Works during the fourth quarter valued at about $806,291,000. GAMMA Investing LLC lifted its position in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company's stock worth $5,123,080,000 after buying an additional 2,057,872 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Illinois Tool Works by 55,978.4% in the 1st quarter. Auto Owners Insurance Co now owns 1,430,000 shares of the industrial products company's stock worth $354,654,000 after buying an additional 1,427,450 shares during the last quarter. Nuveen LLC bought a new position in shares of Illinois Tool Works in the first quarter valued at approximately $293,928,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Illinois Tool Works during the fourth quarter valued at approximately $203,949,000. 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.