Stifel Nicolaus Raises Illinois Tool Works (NYSE:ITW) Price Target to $262.00

Illinois Tool Works (NYSE:ITW - Get Free Report) had its price target upped by Stifel Nicolaus from $260.00 to $262.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price target indicates a potential upside of 0.45% from the stock's previous close.

ITW has been the subject of several other research reports. Barclays reduced their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an "underweight" rating for the company in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. StockNews.com cut shares of Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Finally, Truist Financial lifted their price target on Illinois Tool Works from $281.00 to $312.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $255.44.

Illinois Tool Works Stock Down 0.2 %

Shares of NYSE:ITW traded down $0.52 during trading on Wednesday, reaching $260.83. 682,240 shares of the stock were exchanged, compared to its average volume of 1,074,337. Illinois Tool Works has a 1-year low of $217.50 and a 1-year high of $271.15. The stock has a fifty day moving average of $251.52 and a two-hundred day moving average of $247.50. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92. The firm has a market cap of $77.83 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 4.10 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.41 earnings per share. Research analysts anticipate that Illinois Tool Works will post 10.18 earnings per share for the current fiscal year.

Institutional Trading of Illinois Tool Works

A number of institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $544,000. Nomura Holdings Inc. bought a new position in Illinois Tool Works in the 4th quarter worth about $1,443,000. Rise Advisors LLC purchased a new position in Illinois Tool Works during the 1st quarter valued at about $35,000. Wedmont Private Capital increased its position in shares of Illinois Tool Works by 16.4% during the first quarter. Wedmont Private Capital now owns 2,787 shares of the industrial products company's stock valued at $732,000 after buying an additional 393 shares during the period. Finally, M. Kraus & Co lifted its holdings in shares of Illinois Tool Works by 0.5% in the first quarter. M. Kraus & Co now owns 43,951 shares of the industrial products company's stock worth $11,793,000 after buying an additional 240 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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.