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

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

A number of other equities research analysts also recently issued reports on the company. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted 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 note on Monday, October 7th. Citigroup increased their target price on shares of Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a research note on Monday. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $267.90.

Illinois Tool Works Price Performance

NYSE ITW traded up $0.12 during trading on Wednesday, hitting $273.87. 73,461 shares of the stock traded hands, compared to its average volume of 1,036,390. The company has a market capitalization of $80.87 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 4.24 and a beta of 1.10. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a 50-day simple moving average of $266.20 and a 200-day simple moving average of $251.93. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

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

Institutional Investors Weigh In On Illinois Tool Works

Hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama boosted its position in shares of Illinois Tool Works by 0.5% in the 3rd quarter. Retirement Systems of Alabama now owns 184,289 shares of the industrial products company’s stock worth $48,297,000 after purchasing an additional 948 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 398,676 shares during the period. Wilmington Savings Fund Society FSB raised its position in Illinois Tool Works by 128.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company’s stock worth $6,084,000 after buying an additional 13,062 shares during the last quarter. World Investment Advisors LLC lifted its stake in Illinois Tool Works by 6.7% during the 3rd quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company’s stock valued at $4,186,000 after acquiring an additional 1,000 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Illinois Tool Works by 17.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 89,507 shares of the industrial products company’s stock valued at $24,521,000 after acquiring an additional 13,567 shares during the last quarter. 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.