Research analysts at BMO Capital Markets increased their price objective on shares of Illinois Tool Works (NYSE:ITW) from $77.00 to $81.00 in a report released on Wednesday, American Banking News reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 6.72% from the company’s current price.
Shares of Illinois Tool Works (NYSE:ITW) opened at 75.90 on Wednesday. Illinois Tool Works has a one year low of $58.39 and a one year high of $78.56. The stock’s 50-day moving average is $74.97 and its 200-day moving average is $70.46. The company has a market cap of $33.994 billion and a P/E ratio of 15.03.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.10 by $0.07. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts expect that Illinois Tool Works will post $4.20 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Illinois Tool Works in a research note to investors on Wednesday, September 25th. They now have a $80.00 price target on the stock, up previously from $75.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $78.00 to $83.00 in a research note to investors on Wednesday, September 25th. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Illinois Tool Works from $80.00 to $85.00 in a research note to investors on Thursday, August 22nd. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Illinois Tool Works has an average rating of “Hold” and a consensus price target of $74.46.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.