Illinois Tool Works (NYSE:ITW) Price Target Lowered to $265.00 at Barclays

Illinois Tool Works (NYSE:ITW) had its price objective reduced by research analysts at Barclays from $270.00 to $265.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price objective indicates a potential upside of 6.52% from the company’s current price.

Several other brokerages also recently issued reports on ITW. Citigroup raised their price target on Illinois Tool Works from $266.00 to $279.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Robert W. Baird boosted their target price 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. Stifel Nicolaus lifted their target price on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, Evercore ISI downgraded Illinois Tool Works from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $268.00.

Illinois Tool Works Price Performance

NYSE ITW opened at $248.79 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $73.47 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a 50 day moving average price of $266.87 and a two-hundred day moving average price of $254.95.

Illinois Tool Works (NYSE:ITW) last issued 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 firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the 2nd quarter valued at $30,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the 3rd quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new stake in shares of Illinois Tool Works during the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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.