Stifel Nicolaus Lowers Illinois Tool Works (NYSE:ITW) Price Target to $266.00

Illinois Tool Works (NYSE:ITW) had its target price lowered by analysts at Stifel Nicolaus from $268.00 to $266.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 2.38% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company lowered their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Barclays decreased their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $269.89.

Illinois Tool Works Stock Performance

NYSE:ITW opened at $259.83 on Friday. The company has a market cap of $76.73 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.60 and a beta of 1.11. 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 debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The stock has a fifty day moving average price of $263.01 and a 200-day moving average price of $256.30.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.55 earnings per share. As a group, equities analysts anticipate that Illinois Tool Works will post 10.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter worth $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at about $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works during the fourth quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Illinois Tool Works in the third quarter worth approximately $35,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.