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

Illinois Tool Works (NYSE:ITW) had its price objective dropped by investment analysts at Stifel Nicolaus from $268.00 to $266.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 2.54% from the company’s current price.

A number of other research analysts also recently commented on the company. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays dropped their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Finally, Citigroup cut their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Two equities 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 company. According to MarketBeat, Illinois Tool Works 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 hours on Friday, hitting $259.41. 90,827 shares of the company were exchanged, compared to its average volume of 803,175. The company has a 50 day moving average of $263.43 and a two-hundred day moving average of $256.09. 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 52-week low of $232.77 and a 52-week high of $279.13. The firm has a market cap of $76.60 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 3.60 and a beta of 1.11.

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. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the business earned $2.55 EPS. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

Institutional investors have recently modified their holdings of the business. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the fourth quarter worth $28,000. True Wealth Design LLC increased its stake 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 valued at $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter valued at $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the third quarter valued at $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.