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

Illinois Tool Works (NYSE:ITW - Free Report) had its price target decreased by Stifel Nicolaus from $268.00 to $266.00 in a report issued on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company's stock.

Several other research firms also recently weighed in on ITW. 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. Robert W. Baird boosted their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their target price for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. 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. Finally, Wells Fargo & Company lowered their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Illinois Tool Works currently has an average rating of "Hold" and a consensus price target of $269.89.

Illinois Tool Works Stock Down 0.0 %

Shares of ITW traded down $0.08 during mid-day trading on Friday, reaching $259.83. The company's stock had a trading volume of 828,381 shares, compared to its average volume of 712,571. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13. The stock has a market cap of $76.73 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company's 50 day moving average is $263.01 and its 200 day moving average is $256.30.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. The company had revenue of $3.97 billion for 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%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.55 earnings per share. 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

A number of large investors have recently modified their holdings of ITW. Pensionfund Sabic grew its position in Illinois Tool Works by 37.0% during the fourth quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company's stock worth $1,876,000 after buying an additional 2,000 shares during the period. Franklin Resources Inc. grew its holdings in shares of Illinois Tool Works by 41.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after acquiring an additional 398,676 shares during the period. Clark & Stuart Inc purchased a new position in Illinois Tool Works in the 4th quarter valued at approximately $1,729,000. Czech National Bank raised its holdings in Illinois Tool Works by 5.9% during the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company's stock worth $14,774,000 after purchasing an additional 3,227 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Illinois Tool Works during the third quarter worth $1,179,000. 79.77% of the stock is 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.