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Stifel Nicolaus Increases Illinois Tool Works (NYSE:ITW) Price Target to $255.00

Illinois Tool Works logo with Industrials background

Illinois Tool Works (NYSE:ITW - Get Free Report) had its price objective lifted by investment analysts at Stifel Nicolaus from $233.00 to $255.00 in a report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price target suggests a potential downside of 0.09% from the company's previous close.

A number of other analysts have also recently commented on the company. Bank of America cut Illinois Tool Works from a "neutral" rating to an "underperform" rating and set a $220.00 price target for the company. in a research note on Wednesday, May 7th. Truist Financial dropped their price objective on Illinois Tool Works from $302.00 to $284.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company raised their target price on Illinois Tool Works from $230.00 to $235.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. UBS Group lowered their price objective on Illinois Tool Works from $269.00 to $234.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Evercore ISI dropped their target price on Illinois Tool Works from $252.00 to $249.00 and set an "underperform" rating on the stock in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $255.67.

Check Out Our Latest Report on Illinois Tool Works

Illinois Tool Works Trading Down 1.0%

NYSE ITW opened at $255.22 on Monday. Illinois Tool Works has a fifty-two week low of $214.66 and a fifty-two week high of $279.13. 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 stock has a market cap of $74.78 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 5.40 and a beta of 1.09. The stock has a 50 day simple moving average of $249.03 and a two-hundred day simple moving average of $249.53.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.04. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The firm's revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. On average, analysts forecast that Illinois Tool Works will post 10.39 earnings per share for the current year.

Insider Buying and Selling at Illinois Tool Works

In other news, Director David Byron Smith, Jr. purchased 872 shares of the stock in a transaction on Monday, June 2nd. The stock was purchased at an average price of $241.16 per share, with a total value of $210,291.52. Following the completion of the transaction, the director owned 122,884 shares in the company, valued at approximately $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works during the fourth quarter valued at about $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in Illinois Tool Works during the 4th quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Illinois Tool Works in the first quarter worth approximately $26,000. Finally, SOA Wealth Advisors LLC. grew its position 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 and hedge funds.

Illinois Tool Works Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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