Illinois Tool Works (NYSE:ITW) Price Target Lowered to $245.00 at Wells Fargo & Company

Illinois Tool Works (NYSE:ITW) had its target price lowered by equities research analysts at Wells Fargo & Company from $250.00 to $245.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 3.09% from the stock’s current price.

Several other research firms also recently commented on ITW. Robert W. Baird increased their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $272.11.

Illinois Tool Works Stock Down 0.6 %

Shares of NYSE:ITW traded down $1.42 during midday trading on Thursday, hitting $252.82. 226,848 shares of the stock were exchanged, compared to its average volume of 951,664. The company has a market capitalization of $74.66 billion, a PE ratio of 21.86, a P/E/G ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The business’s fifty day simple moving average is $260.77 and its two-hundred day simple moving average is $257.12.

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

Institutional Trading of Illinois Tool Works

A number of institutional investors and hedge funds have recently modified their holdings of ITW. Nikulski Financial Inc. grew its stake in shares of Illinois Tool Works by 3.6% in the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares during the period. Baron Wealth Management LLC increased its position in Illinois Tool Works by 4.5% in the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of 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 purchasing an additional 40 shares in the last quarter. Sigma Planning Corp grew its stake in shares of 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 valued at $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 41 shares in the last quarter. 79.77% of the stock is currently owned by 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.