Evercore ISI Cuts Illinois Tool Works (NYSE:ITW) Price Target to $252.00

Illinois Tool Works (NYSE:ITW) had its target price reduced by research analysts at Evercore ISI from $255.00 to $252.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the industrial products company’s stock. Evercore ISI’s price target points to a potential downside of 5.05% from the stock’s previous close.

ITW has been the subject of a number of other research reports. Barclays reduced their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group upped their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. StockNews.com cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price for the company in a research report on Wednesday. Finally, Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works presently has an average rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $265.42 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The firm has a market cap of $77.90 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 4.49 and a beta of 1.11. The business has a 50-day simple moving average of $257.23 and a two-hundred day simple moving average of $258.12. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

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 the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, analysts expect that Illinois Tool Works will post 10.41 earnings per share for the current year.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Illinois Tool Works during the fourth quarter worth $806,291,000. Raymond James Financial Inc. bought a new stake in shares of Illinois Tool Works in the fourth quarter worth about $203,949,000. Cerity Partners LLC lifted its position in shares of Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock worth $229,269,000 after buying an additional 655,341 shares in the last quarter. Northern Trust Corp boosted its stake in Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after buying an additional 508,188 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Illinois Tool Works by 36,632.9% during the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after buying an additional 437,397 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

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.