Stifel Nicolaus Raises Illinois Tool Works (NYSE:ITW) Price Target to $268.00

Illinois Tool Works (NYSE:ITW) had its target price increased by investment analysts at Stifel Nicolaus from $262.00 to $268.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential downside of 2.14% from the stock’s previous close.

ITW has been the topic of a number of other reports. Truist Financial raised their target price on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Robert W. Baird raised their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $267.90.

Illinois Tool Works Stock Performance

ITW traded up $0.12 during midday trading on Wednesday, hitting $273.87. 73,461 shares of the company were exchanged, compared to its average volume of 1,036,390. The company’s 50 day simple moving average is $266.20 and its 200 day simple moving average is $251.93. The firm has a market capitalization of $80.87 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm earned $2.55 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $32,000. Financial Connections Group Inc. purchased a new stake in shares of Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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.