Illinois Tool Works (NYSE:ITW) Given New $259.00 Price Target at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its price target cut by analysts at Stifel Nicolaus from $266.00 to $259.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 1.69% from the company’s current price.

A number of other equities analysts have also weighed in on ITW. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday. Barclays cut their target price on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Citigroup lowered their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $271.33.

Illinois Tool Works Price Performance

Shares of NYSE ITW traded up $0.45 during mid-day trading on Thursday, reaching $254.69. The company’s stock had a trading volume of 466,682 shares, compared to its average volume of 963,144. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The firm has a market capitalization of $75.21 billion, a PE ratio of 22.01, a P/E/G ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13. The stock has a fifty day moving average of $260.77 and a two-hundred day moving average of $257.12.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. As a group, sell-side analysts anticipate that Illinois Tool Works will post 10.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its holdings 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 worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth about $35,000. 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.