Wells Fargo & Company Forecasts Strong Price Appreciation for Illinois Tool Works (NYSE:ITW) Stock\n\nKey Points * **Wells Fargo & Company** raised its price target for **Illinois Tool Works** from $235.00 to $250.00, while maintaining an \"underweight\" rating, indicating a potential downside of 2.21% from the current price. * Other analysts like **Robert W. Baird** and **Barclays** have also increased their price targets for ITW, reflecting a range of ratings from \"neutral\" to \"equal weight.\" * Illinois Tool Works reported **$2.58 earnings per share (EPS)** for the last quarter, surpassing estimates, with a revenue of **$4.05 billion**, marking a 0.6% year-over-year increase. * **.** Illinois Tool Works ( - ) had its price target boosted by from $235.00 to $250.00 in a research report report published on Thursday, reports. They currently have an underweight rating on the industrial products company's stock. ITW has been the subject of several other research reports. UBS Group boosted their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the company a \"neutral\" rating in a research report on Thursday. Robert W. Baird upped their price target on shares of Illinois Tool Works from $239.00 to $244.00 and gave the company a \"neutral\" rating in a report on Thursday, May 1st. Evercore ISI cut their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an \"underperform\" rating on the stock in a report on Monday, May 19th. Barclays upped their price objective on shares of Illinois Tool Works from $237.00 to $240.00 and gave the company an \"equal weight\" rating in a research note on Wednesday, July 9th. Finally, Citigroup raised their target price on Illinois Tool Works from $254.00 to $265.00 and gave the stock a \"neutral\" rating in a research note on Monday, July 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of \"Hold\" and a consensus target price of $259.08. Get **Illinois Tool Works** alerts: Sign Up Illinois Tool Works Trading Down 1.6% Shares of traded down $4.06 during mid-day trading on Thursday, reaching $251.91. The company's stock had a trading volume of 1,236,431 shares, compared to its average volume of 992,529. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $279.13. The stock has a market cap of $73.81 billion, a PE ratio of 22.08, a P/E/G ratio of 5.68 and a beta of 1.09. The company's fifty day moving average price is $251.13 and its two-hundred day moving average price is $250.14. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 2.40. Illinois Tool Works ( - ) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.02. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a net margin of 21.31% and a return on equity of 90.89%. The company's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. On average, analysts predict that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year. Illinois Tool Works Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a yield of 2.6%. This is a positive change from Illinois Tool Works's previous quarterly dividend of $1.50. Illinois Tool Works's dividend payout ratio is presently 52.59%. Insider Activity at Illinois Tool Works In related news, Director bought 872 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was bought at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the purchase, the director owned 122,884 shares of the company's stock, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through . 0.88% of the stock is owned by insiders. Hedge Funds Weigh In On Illinois Tool Works Several institutional investors have recently bought and sold shares of the business. Bank & Trust Co grew its position in Illinois Tool Works by 0.4% in the 2nd quarter. Bank & Trust Co now owns 10,215 shares of the industrial products company's stock valued at $2,526,000 after acquiring an additional 39 shares during the last quarter. F M Investments LLC raised its stake in Illinois Tool Works by 4.9% in the fourth quarter. F M Investments LLC now owns 896 shares of the industrial products company's stock valued at $227,000 after buying an additional 42 shares during the last quarter. Trust Co of the South lifted its position in Illinois Tool Works by 2.9% during the 1st quarter. Trust Co of the South now owns 1,478 shares of the industrial products company's stock worth $367,000 after acquiring an additional 42 shares during the period. TFG Advisers LLC raised its stake in shares of Illinois Tool Works by 0.5% in the second quarter. TFG Advisers LLC now owns 8,461 shares of the industrial products company's stock worth $2,092,000 after purchasing an additional 42 shares during the last quarter. Finally, Freedom Investment Management Inc. boosted its position in Illinois Tool Works by 3.0% in the second quarter. Freedom Investment Management Inc. now owns 1,443 shares of the industrial products company's stock valued at $357,000 after buying an additional 42 shares during the last quarter. Institutional investors own 79.77% of the company's stock. Illinois Tool Works Company Profile () Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

Wells Fargo & Company Forecasts Strong Price Appreciation for Illinois Tool Works (NYSE:ITW) Stock

Wells Fargo & Company raised its price target for Illinois Tool Works (ITW) from $235.00 to $250.00 while maintaining an 'underweight' rating. Other analysts, including Robert W. Baird and Barclays, also increased their price targets for ITW. ITW reported $2.58 EPS for the quarter, surpassing estimates, with $4.05 billion in revenue. The stock fell 1.6% to $251.91, and insiders bought shares. Institutional investors adjusted their holdings, and ITW increased its dividend.