Illinois Tool Works (ITW) Stock Forecast & Price Target

$255.70

-0.34 (-0.13%)

(As of 10/8/2024 ET)

Illinois Tool Works - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 10 Analyst Ratings

Sell
3

Hold
4

Buy
3

Based on 10 Wall Street analysts who have issued ratings for Illinois Tool Works in the last 12 months, the stock has a consensus rating of "Hold." Out of the 10 analysts, 3 have given a sell rating, 4 have given a hold rating, 2 have given a buy rating, and 1 has given a strong buy rating for ITW.

Consensus Price Target

$251.78
-1.53% Downside

According to the 10 analysts' twelve-month price targets for Illinois Tool Works, the average price target is $251.78. The highest price target for ITW is $281.00, while the lowest price target for ITW is $215.00. The average price target represents a forecasted downside of -1.53% from the current price of $255.70.

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ITW Analyst Ratings Over Time

Type	Current Forecast 10/9/23 to 10/8/24	1 Month Ago 9/9/23 to 9/8/24	3 Months Ago 7/11/23 to 7/10/24	1 Year Ago 10/9/22 to 10/9/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	2 Buy rating(s)	2 Buy rating(s)	3 Buy rating(s)	1 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	2 Hold rating(s)	7 Hold rating(s)
Sell	3 Sell rating(s)	3 Sell rating(s)	4 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$251.78	$250.22	$252.44	$236.73
Forecasted Upside	-1.53% Downside	2.72% Upside	7.01% Upside	0.96% Upside
Consensus Rating	Hold	Hold	Reduce	Reduce

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ITW Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ITW Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Illinois Tool Works Stock vs. The Competition

Type	Illinois Tool Works	Industrial Products Companies	S&P 500
Consensus Rating Score	2.10	2.58	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	-1.16% Downside	68.83% Upside	7.88% Upside
News Sentiment Rating	Positive News See Recent ITW News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/7/2024	Wells Fargo & Company 3 of 5 stars		Boost Target	Underweight ➝ Underweight	$236.00 ➝ $250.00	-2.36%
8/19/2024	Evercore ISI 2 of 5 stars	D. Raso Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	In-Line ➝ In-Line	$251.00 ➝ $246.00	+1.71%
7/31/2024	Argus 3 of 5 stars	J. Eade Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/31/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Underweight ➝ Underweight	$217.00 ➝ $215.00	-13.30%
7/31/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$267.00 ➝ $270.00	+8.11%
7/31/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$268.00 ➝ $260.00	+4.93%
Get the Latest News and Ratings for ITW and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Illinois Tool Works and its competitors with MarketBeat's FREE daily newsletter.
7/31/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$283.00 ➝ $281.00	+14.22%
7/11/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$275.00 ➝ $240.00	+0.09%
4/8/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$258.00 ➝ $269.00	+2.66%
1/10/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Neutral ➝ Underperform	$260.00 ➝ $235.00	-8.35%
8/3/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underweight ➝ Underweight	$230.00 ➝ $232.00	-7.09%
8/2/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$281.00 ➝ $292.00	+15.94%
5/3/2023	3M Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
4/12/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sell	$183.00 ➝ $181.00	-21.50%
2/9/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$213.00 ➝ $245.00	+3.49%
2/2/2023	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$222.00 ➝ $255.00	+1.78%
1/3/2023	Vertical Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$240.00 ➝ $220.00	-0.14%
12/15/2022	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$210.00 ➝ $238.00	+7.71%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 10:34 PM ET.

Should I Buy Illinois Tool Works Stock? ITW Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, October 1, 2024. Please send any questions or comments about these Illinois Tool Works pros and cons to contact@marketbeat.com.

Illinois Tool Works
Bull Case

Here are some ways that investors could benefit from investing in Illinois Tool Works Inc.:

Illinois Tool Works Inc. has consistently shown strong financial performance with a solid return on equity of 99.74%, indicating efficient use of shareholder funds.
The company recently increased its quarterly dividend from $1.40 to $1.50 per share, reflecting confidence in its financial stability and commitment to rewarding shareholders.
Analysts have given Illinois Tool Works Inc. a "strong-buy" rating, suggesting positive growth prospects and market sentiment towards the stock.
Despite market fluctuations, Illinois Tool Works Inc. has maintained a stable stock price, currently trading at $254.72, indicating resilience in challenging market conditions.
With a diversified product portfolio and international presence, Illinois Tool Works Inc. is well-positioned to capitalize on global industrial markets and drive future growth.

Illinois Tool Works
Bear Case

Investors should be bearish about investing in Illinois Tool Works Inc. for these reasons:

Illinois Tool Works Inc. has a relatively high debt-to-equity ratio of 2.17, which may pose risks in times of economic downturns or rising interest rates.
The company's price-to-earnings ratio of 25.27 and P/E/G ratio of 3.93 suggest that the stock may be currently overvalued compared to its growth prospects, potentially limiting short-term gains.
While the average rating for Illinois Tool Works Inc. is "Hold," the stock has received sell ratings from three analysts, indicating some concerns about the company's performance or outlook.
Recent decreases in price targets by analysts, such as Evercore ISI lowering the target from $251.00 to $246.00, may signal a cautious sentiment in the market towards Illinois Tool Works Inc.
Market conditions and industry competition could impact Illinois Tool Works Inc.'s revenue growth and profitability, leading to potential challenges in maintaining its current financial performance.

ITW Forecast - Frequently Asked Questions

: According to the research reports of 10 Wall Street equities research analysts, the average twelve-month stock price forecast for Illinois Tool Works is $251.78, with a high forecast of $281.00 and a low forecast of $215.00.
: 10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Illinois Tool Works in the last year. There are currently 3 sell ratings, 4 hold ratings, 2 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" ITW shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ITW, but not buy additional shares or sell existing shares.
: According to analysts, Illinois Tool Works's stock has a predicted downside of -1.53% based on their 12-month stock forecasts.
: Over the previous 90 days, Illinois Tool Works's stock had 1 upgrade by analysts.
: Illinois Tool Works has been rated by research analysts at Argus, Barclays, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Stifel Nicolaus, Truist Financial, and Wells Fargo & Company in the past 90 days.
: Analysts like Illinois Tool Works less than other "industrial products" companies. The consensus rating for Illinois Tool Works is Hold while the average consensus rating for "industrial products" companies is Moderate Buy. Learn more on how ITW compares to other companies.