Wells Fargo & Company Issues Pessimistic Forecast for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its price target lowered by research analysts at Wells Fargo & Company from $250.00 to $245.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 4.21% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Illinois Tool Works from $268.00 to $266.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Citigroup decreased their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird increased their target price 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. Finally, Barclays reduced their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Trading Up 0.3 %

Illinois Tool Works stock opened at $255.77 on Thursday. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13. The stock has a 50-day moving average price of $260.34 and a 200 day moving average price of $257.11. 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 company has a market capitalization of $75.53 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Sell-side analysts anticipate that Illinois Tool Works will post 10.14 EPS for the current year.

Institutional Trading of Illinois Tool Works

A number of institutional investors have recently made changes to their positions in ITW. Raymond James Financial Inc. purchased a new position in Illinois Tool Works in the 4th quarter valued at $203,949,000. Proficio Capital Partners LLC lifted its stake in shares of Illinois Tool Works by 36,632.9% in the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock worth $111,209,000 after buying an additional 437,397 shares in the last quarter. Franklin Resources Inc. boosted its position in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after acquiring an additional 398,676 shares during the last quarter. International Assets Investment Management LLC grew its stake in 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 valued at $847,610,000 after acquiring an additional 322,192 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company’s stock worth $106,352,000 after purchasing an additional 308,935 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

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.