Illinois Tool Works (NYSE:ITW) Price Target Lowered to $266.00 at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its target price decreased by equities researchers at Stifel Nicolaus from $268.00 to $266.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 2.54% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Citigroup decreased their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Truist Financial boosted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Stock Down 0.2 %

NYSE ITW traded down $0.49 during trading on Friday, hitting $259.41. The company’s stock had a trading volume of 90,827 shares, compared to its average volume of 803,175. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $76.60 billion, a PE ratio of 22.44, a P/E/G ratio of 3.60 and a beta of 1.11. The business’s 50 day simple moving average is $263.43 and its 200-day simple moving average is $256.09. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.55 earnings per share. On average, equities analysts anticipate that Illinois Tool Works will post 10.13 EPS for the current fiscal year.

Institutional Trading of Illinois Tool Works

Large investors have recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the third quarter worth $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works during the third quarter worth $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

About Illinois Tool Works

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.