Stifel Nicolaus Issues Pessimistic Forecast for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW - Free Report) had its price target reduced by Stifel Nicolaus from $259.00 to $227.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the industrial products company's stock.

Several other research analysts have also recently issued reports on the company. Citigroup cut their target price on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a "sell" rating to a "hold" rating and set a $257.00 price target for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Barclays lowered their price target on shares of Illinois Tool Works from $252.00 to $240.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Illinois Tool Works has a consensus rating of "Hold" and an average target price of $260.09.

Illinois Tool Works Stock Up 0.4 %

ITW traded up $0.88 during midday trading on Monday, hitting $230.68. The company had a trading volume of 889,342 shares, compared to its average volume of 1,003,979. The company has a market capitalization of $67.67 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.56 and a beta of 1.12. The stock's 50 day moving average price is $249.80 and its 200 day moving average price is $257.91. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, research analysts anticipate that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Monday, March 31st. Illinois Tool Works's payout ratio is 51.19%.

Insider Activity at Illinois Tool Works

In other news, CEO Christopher A. O'herlihy sold 48,453 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $274.36, for a total transaction of $13,293,565.08. Following the completion of the transaction, the chief executive officer now owns 55,113 shares of the company's stock, valued at approximately $15,120,802.68. The trade was a 46.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Scott Santi sold 70,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the sale, the director now owns 260,224 shares in the company, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,925 shares of company stock valued at $42,973,845. Corporate insiders own 0.88% of the company's stock.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its holdings in Illinois Tool Works by 1.7% in the 3rd quarter. Barclays PLC now owns 776,966 shares of the industrial products company's stock worth $203,619,000 after acquiring an additional 12,988 shares during the last quarter. Tudor Financial Inc. purchased a new position in shares of Illinois Tool Works during the third quarter valued at approximately $759,000. World Investment Advisors LLC grew its stake in shares of Illinois Tool Works by 6.7% in the 3rd quarter. World Investment Advisors LLC now owns 15,972 shares of the industrial products company's stock worth $4,186,000 after buying an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Illinois Tool Works by 128.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 23,217 shares of the industrial products company's stock valued at $6,084,000 after buying an additional 13,062 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock valued at $358,321,000 after purchasing an additional 398,676 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors.

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.