Illinois Tool Works (NYSE:ITW) Price Target Lowered to $295.00 at JPMorgan Chase & Co.

Illinois Tool Works (NYSE:ITW) had its price objective decreased by JPMorgan Chase & Co. from $300.00 to $295.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on ITW. Robert W. Baird lifted 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 note on Thursday, October 31st. Jefferies Financial Group boosted their price target on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a report on Friday, December 6th. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Barclays cut their price objective on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $272.67.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $255.58 on Monday. The firm’s 50 day moving average price is $262.05 and its 200-day moving average price is $257.01. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $75.47 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. Illinois Tool Works has a twelve month low of $232.77 and a twelve month high of $279.13.

Institutional Trading of Illinois Tool Works

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in shares of Illinois Tool Works by 41.0% in the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Illinois Tool Works by 26,088.4% during the 3rd quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock worth $847,610,000 after acquiring an additional 322,192 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Illinois Tool Works by 318.9% during the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock valued at $106,352,000 after acquiring an additional 308,935 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Illinois Tool Works by 2.7% in the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company’s stock valued at $1,645,972,000 after purchasing an additional 167,422 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in Illinois Tool Works by 787.3% in the third quarter. Benjamin Edwards Inc. now owns 186,643 shares of the industrial products company’s stock worth $48,945,000 after purchasing an additional 165,607 shares during the last quarter. Hedge funds and other 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.