JPMorgan Chase & Co. Cuts Illinois Tool Works (NYSE:ITW) Price Target to $295.00

Illinois Tool Works (NYSE:ITW) had its price target reduced by JPMorgan Chase & Co. from $300.00 to $295.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other analysts have also commented on the stock. Barclays reduced their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Jefferies Financial Group raised their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus reduced their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a report on Friday, January 24th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, Citigroup dropped their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus price target of $272.67.

Illinois Tool Works Trading Down 0.1 %

Shares of NYSE:ITW opened at $254.40 on Monday. 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 stock has a market capitalization of $75.12 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The company has a 50 day moving average price of $261.20 and a 200 day moving average price of $257.14.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (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%. On average, research analysts anticipate that Illinois Tool Works will post 10.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently bought and sold shares of the stock. Bailard Inc. increased its holdings in shares of Illinois Tool Works by 0.4% during the 4th quarter. Bailard Inc. now owns 14,098 shares of the industrial products company’s stock valued at $3,575,000 after acquiring an additional 57 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Illinois Tool Works by 22.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,899 shares of the industrial products company’s stock valued at $1,758,000 after purchasing an additional 1,269 shares during the last quarter. Nixon Peabody Trust Co. raised its position in shares of Illinois Tool Works by 3.8% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,228 shares of the industrial products company’s stock valued at $818,000 after purchasing an additional 118 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Illinois Tool Works by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 3,443,251 shares of the industrial products company’s stock worth $873,071,000 after buying an additional 95,925 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $1,509,000. 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.