Illinois Tool Works Price Target Increased to $77.00 by Analysts at Credit Suisse (ITW)
Equities research analysts at Credit Suisse boosted their price objective on shares of Illinois Tool Works (NYSE:ITW) from $69.00 to $77.00 in a research note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price target indicates a potential downside of 1.97% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Illinois Tool Works from $77.00 to $81.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Illinois Tool Works in a research note to investors on Tuesday, October 22nd. They now have a $80.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Illinois Tool Works from $70.00 to $77.00 in a research note to investors on Tuesday, October 22nd. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $78.40.
In other Illinois Tool Works news, SVP Sharon M. Brady unloaded 60,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $78.01, for a total transaction of $4,680,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Illinois Tool Works (NYSE:ITW) opened at 78.55 on Wednesday. Illinois Tool Works has a 1-year low of $58.12 and a 1-year high of $75.39. The stock has a 50-day moving average of $72.90 and a 200-day moving average of $68.1. The company has a market cap of $35.181 billion and a price-to-earnings ratio of 15.55.
Illinois Tool Works (NYSE:ITW) last released its earnings data on Tuesday, October 22nd. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.05. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. On average, analysts predict that Illinois Tool Works will post $3.61 earnings per share for the current fiscal year.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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