Morgan Stanley (NYSE:MS) analyst Joshua Pokrzywinski maintained a Sell rating on Illinois Tool Works (NYSE:ITW) on Tuesday, setting a price target of $167, which is approximately 18.06% below the present share price of $203.81.
Pokrzywinski expects Illinois Tool Works to post earnings per share (EPS) of $1.71 for the fourth quarter of 2020.
The current consensus among 12 TipRanks analysts is for a Hold rating of shares in Illinois Tool Works, with an average price target of $189.5.
The analysts price targets range from a high of $220 to a low of $162.
In its latest earnings report, released on 06/30/2020, the company reported a quarterly revenue of $2.56 billion and a net profit of $449 million. The company's market cap is $65.04 billion.
According to TipRanks.com, Morgan Stanley analyst Joshua Pokrzywinski is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 6.7% and a 57.97% success rate.
Illinois Tool Works, Inc. manufactures industrial products and equipment. It operates through the following segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Test & Measurement and Electronics segment manufactures equipment, consumables, and related software for testing and measuring of materials, structures, gases and fluids. The Food Equipment segment supplies commercial food equipment and provides related services. The Polymers & Fluids segment provides adhesives, sealants, lubrication and cutting fluids, janitorial and hygiene products, and fluids and polymers for auto aftermarket maintenance and appearance. The Welding segment furnishes arc welding equipment, consumables and accessories for a wide array of industrial and commercial applications. The Construction Products segment makes construction fastening systems and truss products. The Specialty Products segment manufacturing beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. The company was founded by Byron L. Smith in 1912 and is headquartered in Glenview, IL.