Illinois Tool Works (NYSE:ITW) Price Target Lowered to $250.00 at Wells Fargo & Company

Illinois Tool Works (NYSE:ITW) had its target price cut by equities researchers at Wells Fargo & Company from $260.00 to $250.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 0.94% from the stock’s current price.

Several other analysts have also issued reports on ITW. Jefferies Financial Group boosted their price target 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 raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Barclays raised shares of Illinois Tool Works from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $230.00 to $270.00 in a report on Thursday, December 5th. Citigroup increased their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $268.00.

Illinois Tool Works Stock Down 0.4 %

ITW stock opened at $247.66 on Tuesday. The company has a market cap of $73.13 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 4.22 and a beta of 1.11. 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 business’s 50-day moving average is $266.54 and its two-hundred day moving average is $254.90. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.02 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

A number of large investors have recently added to or reduced their stakes in ITW. Nikulski Financial Inc. grew its holdings in shares of Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Illinois Tool Works by 2.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after buying an additional 40 shares in the last quarter. Sigma Planning Corp increased its holdings in shares of Illinois Tool Works by 0.9% in the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 41 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock valued at $957,000 after buying an additional 41 shares in the last quarter. Finally, Procyon Advisors LLC lifted its holdings in shares of Illinois Tool Works by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company’s stock valued at $422,000 after acquiring an additional 43 shares during the last quarter. 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.