Illinois Tool Works (NYSE:ITW) Price Target Lowered to $259.00 at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its target price lowered by Stifel Nicolaus from $266.00 to $259.00 in a report published on Thursday morning,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 stock. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday. Barclays lowered their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $271.33.

Illinois Tool Works Trading Up 0.2 %

NYSE ITW opened at $254.86 on Thursday. Illinois Tool Works has a one year low of $232.77 and a one year high of $279.13. 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 business has a 50 day simple moving average of $260.77 and a 200 day simple moving average of $257.12. The stock has a market capitalization of $75.26 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Research analysts expect that Illinois Tool Works will post 10.14 earnings per share for the current year.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds have recently modified their holdings of ITW. State Street Corp lifted its holdings in Illinois Tool Works by 1.2% during the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock worth $3,277,127,000 after acquiring an additional 149,272 shares during the period. Geode Capital Management LLC increased its position in shares of Illinois Tool Works by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Illinois Tool Works by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after purchasing an additional 95,925 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Illinois Tool Works by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,516,979 shares of the industrial products company’s stock worth $638,205,000 after buying an additional 32,607 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Illinois Tool Works by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,503,537 shares of the industrial products company’s stock valued at $634,797,000 after buying an additional 46,287 shares during the period. Institutional investors own 79.77% of the company’s stock.

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.