Illinois Tool Works (NYSE:ITW) Price Target Lowered to $252.00 at Barclays

Illinois Tool Works (NYSE:ITW - Get Free Report) had its target price reduced by research analysts at Barclays from $260.00 to $252.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Barclays's target price would suggest a potential upside of 2.30% from the company's previous close.

ITW has been the subject of a number of other reports. Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Evercore ISI lowered their price target on Illinois Tool Works from $255.00 to $252.00 and set an "underperform" rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $268.30.

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Illinois Tool Works Trading Down 2.2 %

Shares of NYSE:ITW traded down $5.62 during trading on Wednesday, hitting $246.34. 939,536 shares of the company's stock were exchanged, compared to its average volume of 977,693. The firm has a market cap of $72.30 billion, a P/E ratio of 21.02, a PEG ratio of 4.56 and a beta of 1.13. The firm has a 50-day moving average price of $258.40 and a two-hundred day moving average price of $260.73. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released 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 return on equity of 95.39% and a net margin of 21.94%. Equities analysts predict that Illinois Tool Works will post 10.39 earnings per share for the current year.

Insider Activity

In related news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $271.25, for a total value of $11,249,280.00. Following the completion of the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. This trade represents a 45.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,925 shares of company stock worth $42,973,845 over the last 90 days. 1.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd increased its position in shares of Illinois Tool Works by 31.1% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 10,983 shares of the industrial products company's stock valued at $2,878,000 after purchasing an additional 2,605 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Illinois Tool Works by 4.2% during the third quarter. D.A. Davidson & CO. now owns 15,741 shares of the industrial products company's stock valued at $4,125,000 after buying an additional 631 shares during the last quarter. FMR LLC increased its holdings in Illinois Tool Works by 4.1% during the third quarter. FMR LLC now owns 998,459 shares of the industrial products company's stock valued at $261,666,000 after buying an additional 39,445 shares during the last quarter. Brooklyn Investment Group raised its position in Illinois Tool Works by 10.6% in the third quarter. Brooklyn Investment Group now owns 1,904 shares of the industrial products company's stock worth $499,000 after acquiring an additional 183 shares during the period. Finally, Avestar Capital LLC grew its position in shares of Illinois Tool Works by 25.7% during the 3rd quarter. Avestar Capital LLC now owns 1,066 shares of the industrial products company's stock valued at $279,000 after acquiring an additional 218 shares during the period. 79.77% of the stock is currently owned by hedge funds and other 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.