Illinois Tool Works (NYSE:ITW) Price Target Cut to $295.00 by Analysts at JPMorgan Chase & Co.

Illinois Tool Works (NYSE:ITW) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $300.00 to $295.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.06% from the company’s current price.

ITW has been the subject of several other research reports. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus reduced their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $272.67.

Illinois Tool Works Stock Down 1.1 %

Illinois Tool Works stock traded down $2.78 during midday trading on Monday, hitting $256.39. 572,079 shares of the company’s stock were exchanged, compared to its average volume of 879,869. The company has a market cap of $75.71 billion, a PE ratio of 22.18, a P/E/G ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a 50-day moving average of $262.05 and a two-hundred day moving average of $257.01.

Institutional Inflows and Outflows

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

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.