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Illinois Tool Works (ITW) Stock Forecast & Price Target

$242.62
-6.67 (-2.68%)
(As of 07/19/2024 ET)

Illinois Tool Works - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 10 Wall Street analysts who have issued ratings for Illinois Tool Works in the last 12 months, the stock has a consensus rating of "Reduce." Out of the 10 analysts, 4 have given a sell rating, 3 have given a hold rating, and 3 have given a buy rating for ITW.

Consensus Price Target

$252.10
3.91% Upside
High Forecast$292.00
Average Forecast$252.10
Low Forecast$217.00

According to the 10 analysts' twelve-month price targets for Illinois Tool Works, the average price target is $252.10. The highest price target for ITW is $292.00, while the lowest price target for ITW is $217.00. The average price target represents a forecasted upside of 3.91% from the current price of $242.62.

TypeCurrent Forecast
7/21/23 to 7/20/24
1 Month Ago
6/21/23 to 6/20/24
3 Months Ago
4/22/23 to 4/21/24
1 Year Ago
7/21/22 to 7/21/23
Consensus Rating
Reduce
Reduce
Reduce
Reduce
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
3 Buy rating(s)
3 Buy rating(s)
3 Buy rating(s)
1 Buy rating(s)
Hold
3 Hold rating(s)
2 Hold rating(s)
2 Hold rating(s)
8 Hold rating(s)
Sell
4 Sell rating(s)
4 Sell rating(s)
4 Sell rating(s)
3 Sell rating(s)
Consensus Price Target$252.10$256.44$257.00$234.92
Forecasted Upside3.91% Upside3.35% Upside1.21% Upside-0.25% Downside
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ITW Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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ITW Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Illinois Tool Works Stock vs. The Competition

TypeIllinois Tool WorksIndustrial Products CompaniesS&P 500
Consensus Rating Score
1.90
2.54
2.51
Consensus RatingReduceModerate BuyModerate Buy
Predicted Upside3.91% Upside41.33% Upside10.03% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/18/2024Stifel Nicolaus
4 of 5 stars
 Boost TargetHold ➝ Hold$259.00 ➝ $268.00+5.51%
7/11/2024Jefferies Financial Group
2 of 5 stars
 Lower TargetHold ➝ Hold$275.00 ➝ $240.00+0.09%
7/10/2024Wells Fargo & Company
3 of 5 stars
 Lower TargetUnderweight ➝ Underweight$244.00 ➝ $230.00-2.02%
7/2/2024Truist Financial
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 Lower TargetBuy ➝ Buy$305.00 ➝ $283.00+20.80%
6/4/2024Barclays
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 Lower TargetUnderweight ➝ Underweight$229.00 ➝ $217.00-9.59%
4/8/2024Citigroup
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 Boost TargetNeutral ➝ Neutral$258.00 ➝ $269.00+2.66%
1/10/2024Bank of America
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 DowngradeNeutral ➝ Underperform$260.00 ➝ $235.00-8.35%
10/16/2023JPMorgan Chase & Co.
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 Lower TargetOverweight ➝ Overweight$265.00 ➝ $255.00+8.52%
8/3/2023Morgan Stanley
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 Boost TargetUnderweight ➝ Underweight$230.00 ➝ $232.00-7.09%
8/2/2023Credit Suisse Group
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 Boost TargetOutperform ➝ Outperform$281.00 ➝ $292.00+15.94%
5/3/20233M
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 Reiterated RatingMaintains
4/12/2023Deutsche Bank Aktiengesellschaft
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 Lower TargetSell$183.00 ➝ $181.00-21.50%
2/9/2023UBS Group
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 Boost TargetNeutral$213.00 ➝ $245.00+3.49%
2/2/2023Robert W. Baird
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 Boost Target$222.00 ➝ $255.00+1.78%
1/3/2023Vertical Research
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 DowngradeBuy ➝ Hold$240.00 ➝ $220.00-0.14%
12/15/2022The Goldman Sachs Group
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 Boost TargetNeutral$210.00 ➝ $238.00+7.71%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 05:27 PM ET.

ITW Forecast - Frequently Asked Questions

What is Illinois Tool Works' forecast for 2024?

According to the research reports of 10 Wall Street equities research analysts, the average twelve-month stock price forecast for Illinois Tool Works is $252.10, with a high forecast of $292.00 and a low forecast of $217.00.

Should I buy or sell Illinois Tool Works stock right now?

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Illinois Tool Works in the last year. There are currently 4 sell ratings, 3 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" ITW shares.

Does Illinois Tool Works's stock price have much upside?

According to analysts, Illinois Tool Works's stock has a predicted upside of 2.57% based on their 12-month stock forecasts.

What analysts cover Illinois Tool Works?

Illinois Tool Works has been rated by research analysts at Barclays, Jefferies Financial Group, Stifel Nicolaus, Truist Financial, and Wells Fargo & Company in the past 90 days.

Do Wall Street analysts like Illinois Tool Works more than its competitors?

Analysts like Illinois Tool Works less than other "industrial products" companies. The consensus rating for Illinois Tool Works is Reduce while the average consensus rating for "industrial products" companies is Moderate Buy. Learn more on how ITW compares to other companies.


This page (NYSE:ITW) was last updated on 7/20/2024 by MarketBeat.com Staff

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