Illinois Tool Works (NYSE:ITW) Given New $259.00 Price Target at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its target price decreased by equities research analysts at Stifel Nicolaus from $266.00 to $259.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 1.69% from the stock’s previous close.

A number of other equities research analysts have also issued reports on ITW. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday. Citigroup decreased their price objective 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. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. decreased their target price on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $271.33.

Illinois Tool Works Price Performance

ITW traded up $0.45 on Thursday, reaching $254.69. The company had a trading volume of 466,682 shares, compared to its average volume of 963,144. The company has a market cap of $75.21 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 3.61 and a beta of 1.11. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13. The business has a 50 day simple moving average of $260.77 and a 200 day simple moving average of $257.12.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, sell-side analysts anticipate that Illinois Tool Works will post 10.14 EPS for the current year.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently modified their holdings of ITW. Nikulski Financial Inc. raised its holdings in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after acquiring an additional 39 shares in the last quarter. Baron Wealth Management LLC raised its holdings in Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after buying an additional 40 shares during the last quarter. Sigma Planning Corp increased its position in Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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.