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

Illinois Tool Works (NYSE:ITW) had its price target decreased by Stifel Nicolaus from $268.00 to $266.00 in a report published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Other equities analysts have also recently issued research reports about the company. Truist Financial boosted their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays reduced their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird boosted their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $269.89.

Illinois Tool Works Trading Down 0.0 %

ITW stock opened at $259.83 on Friday. The firm’s fifty day simple moving average is $263.22 and its two-hundred day simple moving average is $256.12. The stock has a market capitalization of $76.73 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a twelve month low of $232.77 and a twelve month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $2.55 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ITW. Sugar Maple Asset Management LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the third quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $35,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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.