Illinois Tool Works (NYSE:ITW) Price Target Raised to $261.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for Illinois Tool Works (ITW) from $255.00 to $261.00, indicating a potential upside of 2.09% from the current stock price.
• The company's stock currently holds a consensus rating of "Hold" with three sell ratings and one strong buy rating among analysts.
• Illinois Tool Works reported $2.58 EPS for the latest quarter, surpassing analysts' expectations and showing a slight revenue increase compared to the same quarter last year.

Illinois Tool Works (NYSE:ITW - Get Free Report) had its target price upped by stock analysts at Stifel Nicolaus from $255.00 to $261.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price objective indicates a potential upside of 2.09% from the stock's current price.

ITW has been the subject of a number of other research reports. Evercore ISI reduced their price objective on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating for the company in a research note on Monday, May 19th. Truist Financial downgraded Illinois Tool Works from a "buy" rating to a "hold" rating and set a $283.00 price objective for the company. in a research note on Thursday. Robert W. Baird increased their price objective on Illinois Tool Works from $239.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. UBS Group increased their price objective on Illinois Tool Works from $243.00 to $255.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Barclays increased their price objective on Illinois Tool Works from $237.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $259.08.

Illinois Tool Works Trading Up 0.8%

Shares of NYSE:ITW traded up $1.98 during midday trading on Thursday, reaching $255.65. The company's stock had a trading volume of 646,198 shares, compared to its average volume of 1,098,531. The firm has a market capitalization of $74.91 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 5.47 and a beta of 1.09. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm has a 50 day moving average price of $250.71 and a two-hundred day moving average price of $250.11. Illinois Tool Works has a fifty-two week low of $214.66 and a fifty-two week high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.56 by $0.02. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter last year, the firm posted $2.54 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts forecast that Illinois Tool Works will post 10.39 earnings per share for the current year.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. bought 872 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was acquired at an average cost of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director directly owned 122,884 shares of the company's stock, valued at $29,634,705.44. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Illinois Tool Works

Large investors have recently made changes to their positions in the stock. Frazier Financial Advisors LLC bought a new position in shares of Illinois Tool Works in the second quarter worth $25,000. Redwood Park Advisors LLC bought a new position in shares of Illinois Tool Works in the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new position in shares of Illinois Tool Works in the fourth quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in Illinois Tool Works during the first quarter valued at $26,000. Finally, SOA Wealth Advisors LLC. boosted its stake in Illinois Tool Works by 90.9% during the second quarter. SOA Wealth Advisors LLC. now owns 105 shares of the industrial products company's stock valued at $26,000 after buying an additional 50 shares during the period. 79.77% of the stock is owned by 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.

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