Illinois Tool Works (NYSE:ITW) Given New $262.00 Price Target at Barclays

Illinois Tool Works (NYSE:ITW) had its target price cut by Barclays from $265.00 to $262.00 in a research report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

A number of other analysts have also issued reports on ITW. Robert W. Baird increased their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup lowered their target price on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $271.00.

Illinois Tool Works Stock Performance

Illinois Tool Works stock opened at $255.77 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. The company has a market cap of $75.53 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm’s 50 day simple moving average is $260.34 and its 200-day simple moving average is $257.11.

Illinois Tool Works (NYSE:ITW) last announced its 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 21.66% and a return on equity of 97.06%. As a group, equities research analysts predict that Illinois Tool Works will post 10.14 EPS for the current year.

Institutional Trading of Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works in the fourth quarter valued at approximately $28,000. True Wealth Design LLC boosted its holdings 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 valued at $30,000 after purchasing an additional 106 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter worth $32,000. Ulland Investment Advisors LLC bought a new position in shares of Illinois Tool Works during the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at about $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.