Stifel Nicolaus Lowers Illinois Tool Works (NYSE:ITW) Price Target to $259.00

Illinois Tool Works (NYSE:ITW) had its target price lowered by stock analysts at Stifel Nicolaus from $266.00 to $259.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 1.26% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup reduced their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Barclays cut their price target on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Truist Financial boosted their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $255.77 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The business has a 50 day simple moving average of $260.34 and a 200-day simple moving average of $257.11. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13. The stock has a market capitalization of $75.53 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nikulski Financial Inc. increased its position in Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after buying an additional 39 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Illinois Tool Works by 4.5% during the fourth 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 during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its position in Illinois Tool Works by 2.5% during the 3rd 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 lifted its holdings in Illinois Tool Works by 0.9% in the 3rd 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 in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.