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

Illinois Tool Works (NYSE:ITW) had its price objective decreased by Stifel Nicolaus from $266.00 to $259.00 in a research note issued to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Several other research firms also recently issued reports on ITW. Wells Fargo & Company cut their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays cut 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 report on Wednesday, January 8th. Finally, Citigroup decreased their target price 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 investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $271.33.

Illinois Tool Works Stock Up 0.2 %

ITW stock opened at $254.86 on Thursday. The stock has a fifty day moving average of $260.77 and a 200-day moving average of $257.12. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 22.05, a PEG 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 (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Illinois Tool Works will post 10.14 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

Several institutional investors and hedge funds have recently made changes to their positions in ITW. Pensionfund Sabic lifted its stake in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the last quarter. Franklin Resources Inc. lifted its position in Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares during the last quarter. Clark & Stuart Inc bought a new position in Illinois Tool Works during the fourth quarter valued at approximately $1,729,000. Czech National Bank raised its stake in shares of Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock worth $14,774,000 after acquiring an additional 3,227 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Illinois Tool Works in the 3rd quarter worth approximately $1,179,000. 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.