Stifel Nicolaus Cuts Illinois Tool Works (NYSE:ITW) Price Target to $202.00

Illinois Tool Works (NYSE:ITWGet Rating) had its price target lowered by equities researchers at Stifel Nicolaus from $242.00 to $202.00 in a research report issued to clients and investors on Monday, The Fly reports. Stifel Nicolaus’ target price indicates a potential upside of 2.92% from the company’s previous close.

A number of other brokerages have also weighed in on ITW. Barclays dropped their price objective on Illinois Tool Works from $209.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, April 4th. Morgan Stanley cut their price target on shares of Illinois Tool Works from $210.00 to $197.00 and set an “underweight” rating for the company in a report on Thursday, April 7th. JPMorgan Chase & Co. raised shares of Illinois Tool Works from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $262.00 to $255.00 in a report on Monday, March 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Illinois Tool Works from $236.00 to $226.00 and set a “hold” rating for the company in a report on Thursday. Finally, StockNews.com initiated coverage on Illinois Tool Works in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Illinois Tool Works currently has an average rating of “Hold” and an average target price of $235.50.

Shares of ITW opened at $196.27 on Monday. The stock has a market capitalization of $61.22 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.20 and a beta of 1.10. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.35 and a current ratio of 1.84. Illinois Tool Works has a 1 year low of $196.00 and a 1 year high of $249.81. The company’s fifty day moving average is $211.22 and its two-hundred day moving average is $226.34.

Illinois Tool Works (NYSE:ITWGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. Illinois Tool Works had a net margin of 18.64% and a return on equity of 74.43%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business posted $2.11 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts predict that Illinois Tool Works will post 9.11 EPS for the current year.

In related news, CEO Ernest Scott Santi sold 148,789 shares of the business’s stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $231.44, for a total value of $34,435,726.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ITW. Stokes Family Office LLC grew its position in shares of Illinois Tool Works by 17.2% in the third quarter. Stokes Family Office LLC now owns 2,448 shares of the industrial products company’s stock valued at $506,000 after purchasing an additional 359 shares during the period. Sumitomo Mitsui Financial Group Inc. increased its stake in shares of Illinois Tool Works by 41.0% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 6,179 shares of the industrial products company’s stock valued at $1,277,000 after acquiring an additional 1,797 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Illinois Tool Works by 2.2% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 50,683 shares of the industrial products company’s stock valued at $10,473,000 after acquiring an additional 1,087 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Illinois Tool Works in the fourth quarter worth approximately $5,647,000. Finally, Russell Investments Group Ltd. grew its holdings in Illinois Tool Works by 83.9% in the third quarter. Russell Investments Group Ltd. now owns 172,734 shares of the industrial products company’s stock valued at $35,937,000 after purchasing an additional 78,798 shares during the period. 76.91% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile (Get Rating)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

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