Illinois Tool Works PT Raised to $90.00 at Jefferies Group (ITW)
Research analysts at Jefferies Group hoisted their target price on shares of Illinois Tool Works (NYSE:ITW) from $85.00 to $90.00 in a report released on Wednesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 14.58% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.40.
In other Illinois Tool Works news, SVP Sharon M. Brady sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $78.01, for a total transaction of $4,680,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Illinois Tool Works (NYSE:ITW) opened at 78.55 on Wednesday. Illinois Tool Works has a 52-week low of $58.12 and a 52-week 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 P/E ratio of 15.55.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results 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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