Illinois Tool Works Inc. (NYSE:ITW) had its price objective cut by equities research analysts at Stifel Nicolaus from $162.00 to $158.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 1.60% from the company’s current price.

Several other brokerages have also recently issued reports on ITW. Royal Bank Of Canada boosted their price target on shares of Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Illinois Tool Works from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Morgan Stanley reiterated an “equal weight” rating and set a $147.00 price target (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $155.40.

Shares of Illinois Tool Works (ITW) opened at 155.51 on Tuesday. Illinois Tool Works has a 52 week low of $111.50 and a 52 week high of $157.28. The stock has a 50 day moving average price of $148.07 and a 200 day moving average price of $142.44. The firm has a market capitalization of $53.52 billion, a P/E ratio of 25.16 and a beta of 1.12.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. Illinois Tool Works’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts forecast that Illinois Tool Works will post $6.46 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/24/illinois-tool-works-inc-itw-pt-lowered-to-158-00.html.

In other news, insider John R. Hartnett sold 6,533 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $150.00, for a total transaction of $979,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Illinois Tool Works by 0.4% during the third quarter. Northern Trust Corp now owns 34,111,354 shares of the industrial products company’s stock valued at $4,087,905,000 after buying an additional 121,298 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Illinois Tool Works by 2.3% during the second quarter. Vanguard Group Inc. now owns 22,627,699 shares of the industrial products company’s stock valued at $3,241,417,000 after buying an additional 500,583 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Illinois Tool Works by 5.8% during the second quarter. BlackRock Inc. now owns 20,436,577 shares of the industrial products company’s stock valued at $2,927,540,000 after buying an additional 1,118,381 shares during the last quarter. State Street Corp grew its holdings in shares of Illinois Tool Works by 3.7% during the fourth quarter. State Street Corp now owns 14,765,162 shares of the industrial products company’s stock valued at $1,808,132,000 after buying an additional 532,871 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Illinois Tool Works by 3.6% during the first quarter. Wells Fargo & Company MN now owns 8,905,002 shares of the industrial products company’s stock valued at $1,179,646,000 after buying an additional 308,538 shares during the last quarter. Hedge funds and other institutional investors own 74.73% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works Inc. and related companies with MarketBeat.com's FREE daily email newsletter.