Illinois Tool Works (ITW) Price Target Cut to $162.00

Illinois Tool Works (NYSE:ITW) had its target price dropped by investment analysts at Stifel Nicolaus from $186.00 to $162.00 in a report released on Monday, Marketbeat Ratings reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 2.55% from the company’s current price.

Other analysts have also recently issued reports about the company. Citigroup raised their price target on Illinois Tool Works from $192.00 to $202.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Argus lifted their price objective on Illinois Tool Works to $200.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. BMO Capital Markets cut Illinois Tool Works from an “outperform” rating to a “market perform” rating and set a $180.00 price objective for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Illinois Tool Works in a report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $176.29.

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ITW opened at $157.97 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.38 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $52,946.41, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. Illinois Tool Works has a 12 month low of $130.58 and a 12 month high of $179.07.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. research analysts forecast that Illinois Tool Works will post 7.71 EPS for the current fiscal year.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the transaction, the insider now directly owns 42,497 shares of the company’s stock, valued at $7,564,466. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.82% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Illinois Tool Works by 21.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,729 shares of the industrial products company’s stock worth $3,292,000 after acquiring an additional 3,498 shares during the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Illinois Tool Works by 5.8% in the fourth quarter. KCM Investment Advisors LLC now owns 9,922 shares of the industrial products company’s stock worth $1,655,000 after acquiring an additional 541 shares during the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Illinois Tool Works by 7.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 50,224 shares of the industrial products company’s stock worth $8,380,000 after acquiring an additional 3,511 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Illinois Tool Works by 7.5% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 223,945 shares of the industrial products company’s stock worth $37,365,000 after acquiring an additional 15,658 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Illinois Tool Works by 48.7% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 17,100 shares of the industrial products company’s stock worth $2,853,000 after acquiring an additional 5,600 shares during the last quarter. 77.64% of the stock is owned by institutional investors.

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About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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