Illinois Tool Works, Inc. [NYSE: ITW] slipped around -5.35 points on Thursday, while shares priced at $255.55 at the close of the session, down -2.05%. The company report on February 1, 2024 at 8:00 AM that ITW Reports Fourth Quarter and Full Year 2023 Results.
Fourth Quarter 2023 Highlights.
Compared to the average trading volume of 1.01M shares, ITW reached a trading volume of 2916001 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Illinois Tool Works, Inc. [ITW]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ITW shares is $246.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ITW stock is a recommendation set at 3.26. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Illinois Tool Works, Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 10, 2024.
The Average True Range (ATR) for Illinois Tool Works, Inc. is set at 4.16, with the Price to Sales ratio for ITW stock in the period of the last 12 months amounting to 4.77. The Price to Book ratio for the last quarter was 25.61, with the Price to Cash per share for the same quarter was set at 3.54. Price to Free Cash Flow for ITW in the course of the last twelve months was 27.16 with Quick ratio for the last quarter at 0.97.
How has ITW stock performed recently?
Illinois Tool Works, Inc. [ITW] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.53. With this latest performance, ITW shares dropped by -1.93% in over the last four-week period, additionally plugging by 2.21% over the last 6 months – not to mention a rise of 8.27% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITW stock in for the last two-week period is set at 46.75, with the RSI for the last a single of trading hit 41.69, and the three-weeks RSI is set at 50.24 for Illinois Tool Works, Inc. [ITW]. The present Moving Average for the last 50 days of trading for this stock 254.05, while it was recorded at 261.77 for the last single week of trading, and 241.68 for the last 200 days.
Illinois Tool Works, Inc. [ITW]: Deeper insight into the fundamentals
Illinois Tool Works, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.97 and a Current Ratio set at 1.33.
Earnings analysis for Illinois Tool Works, Inc. [ITW]
With the latest financial reports released by the company, Illinois Tool Works, Inc. posted 2.95/share EPS, while the average EPS was predicted by analysts to be reported at 2.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ITW. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Illinois Tool Works, Inc. go to 2.88%.
Insider trade positions for Illinois Tool Works, Inc. [ITW]
The top three institutional holders of ITW stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ITW stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ITW stock with ownership which is approximately 5.8325%.
