Illinois Tool Works (NYSE:ITW) Price Target Lowered to $234.00 at UBS Group

Illinois Tool Works (NYSE:ITW - Get Free Report) had its price target decreased by UBS Group from $269.00 to $234.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the industrial products company's stock. UBS Group's price target would suggest a potential upside of 0.69% from the stock's current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company dropped their price target on Illinois Tool Works from $250.00 to $245.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. StockNews.com lowered shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays cut their price objective on shares of Illinois Tool Works from $260.00 to $252.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Truist Financial upped their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus lowered their price objective on Illinois Tool Works from $266.00 to $259.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Illinois Tool Works presently has an average rating of "Hold" and a consensus target price of $264.09.

Illinois Tool Works Price Performance

Shares of ITW stock traded up $5.59 during trading hours on Monday, hitting $232.40. 1,451,463 shares of the company's stock were exchanged, compared to its average volume of 1,007,240. The firm has a 50 day moving average of $252.30 and a two-hundred day moving average of $258.95. Illinois Tool Works has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. The firm has a market cap of $68.18 billion, a P/E ratio of 19.83, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Illinois Tool Works will post 10.39 EPS for the current year.

Insider Transactions at Illinois Tool Works

In related news, Director Ernest Scott Santi sold 70,000 shares of Illinois Tool Works stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. O'herlihy sold 48,453 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares in the company, valued at $15,120,802.68. This represents a 46.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock worth $42,973,845 over the last ninety days. Company insiders own 0.88% of the company's stock.

Institutional Trading of Illinois Tool Works

Large investors have recently made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new stake in Illinois Tool Works in the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in Illinois Tool Works during the 4th quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Finally, Glass Jacobson Investment Advisors llc increased its holdings in shares of Illinois Tool Works by 336.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. 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.