Illinois Tool Works (NYSE:ITW – Free Report) had its price objective reduced by Stifel Nicolaus from $268.00 to $266.00 in a research note released on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.
Several other research firms also recently weighed in on ITW. Citigroup reduced their price target on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. 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 report on Wednesday, November 13th. Barclays decreased their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $269.89.
Get Our Latest Stock Analysis on ITW
Illinois Tool Works Stock Performance
Illinois Tool Works (NYSE:ITW – Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.
Institutional Trading of Illinois Tool Works
Several institutional investors and hedge funds have recently bought and sold shares of the business. Sugar Maple Asset Management LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $28,000. True Wealth Design LLC grew its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works in the third quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at $35,000. Institutional investors own 79.77% of the company’s stock.
About Illinois Tool Works
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.
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