Illinois Tool Works PT Raised to $74.00 at Morgan Stanley (ITW)
Stock analysts at Morgan Stanley increased their price objective on shares of Illinois Tool Works (NYSE:ITW) from $71.00 to $74.00 in a report issued on Wednesday, Stock Ratings Network reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 5.79% from the company’s current price.
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’s 50-day moving average is $72.90 and its 200-day moving average is $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 announced its earnings results on Tuesday, October 22nd. The company reported $0.99 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.09 earnings per share. Illinois Tool Works’s revenue was down 20.7% compared to the same quarter last year. Analysts expect that Illinois Tool Works will post $3.61 EPS for the current fiscal year.
In other Illinois Tool Works news, SVP Sharon M. Brady unloaded 60,000 shares of Illinois Tool Works stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $78.01, for a total value of $4,680,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
ITW has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Illinois Tool Works from $85.00 to $90.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Global Hunter Securities raised their price target on shares of Illinois Tool Works from $80.00 to $85.00 in a research note to investors on Wednesday. They now have an “accumulate” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Illinois Tool Works from $69.00 to $77.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Illinois Tool Works has an average rating of “Hold” and an average price target of $78.40.
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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