Illinois Tool Works (NYSE:ITW) Price Target Lowered to $252.00 at Evercore ISI

Illinois Tool Works (NYSE:ITW) had its price objective lowered by analysts at Evercore ISI from $255.00 to $252.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the industrial products company’s stock. Evercore ISI’s target price indicates a potential downside of 4.08% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ITW. JPMorgan Chase & Co. reduced their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup decreased their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Barclays reduced their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Truist Financial lifted their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $269.30.

Illinois Tool Works Stock Up 0.2 %

Shares of Illinois Tool Works stock traded up $0.46 on Wednesday, hitting $262.71. The company had a trading volume of 128,154 shares, compared to its average volume of 947,478. The stock has a market capitalization of $77.58 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 4.42 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The stock has a 50 day moving average of $257.57 and a 200-day moving average of $258.02.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, sell-side analysts forecast that Illinois Tool Works will post 10.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Illinois Tool Works during the fourth quarter worth $806,291,000. Raymond James Financial Inc. bought a new position in Illinois Tool Works in the 4th quarter worth about $203,949,000. Cerity Partners LLC grew its holdings in Illinois Tool Works by 263.9% during the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after buying an additional 655,341 shares in the last quarter. Northern Trust Corp increased its position in shares of Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after buying an additional 508,188 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after buying an additional 437,397 shares in the last quarter. 79.77% of the stock is owned by 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.