Illinois Tool Works (NYSE:ITW) Upgraded to Equal Weight at Barclays

Illinois Tool Works (NYSE:ITW) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $270.00 price target on the industrial products company’s stock, up from their prior price target of $230.00. Barclays‘s price objective points to a potential downside of 2.15% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price objective on Illinois Tool Works from $281.00 to $312.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Robert W. Baird upped their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and an average target price of $261.30.

Illinois Tool Works Trading Down 0.0 %

Shares of NYSE:ITW opened at $275.94 on Thursday. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market cap of $81.48 billion, a P/E ratio of 23.87, a P/E/G ratio of 4.28 and a beta of 1.10. The stock’s 50-day moving average is $265.50 and its 200-day moving average is $251.33. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business earned $2.55 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that Illinois Tool Works will post 10.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth $1,179,000. Daiwa Securities Group Inc. lifted its holdings in Illinois Tool Works by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,938 shares of the industrial products company’s stock worth $9,680,000 after buying an additional 3,903 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Illinois Tool Works by 7.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,995 shares of the industrial products company’s stock worth $37,999,000 after buying an additional 9,825 shares in the last quarter. BDF Gestion acquired a new position in Illinois Tool Works during the 2nd quarter worth $1,727,000. Finally, NewEdge Advisors LLC lifted its holdings in Illinois Tool Works by 7.8% during the 2nd quarter. NewEdge Advisors LLC now owns 175,921 shares of the industrial products company’s stock worth $41,686,000 after buying an additional 12,804 shares in the last quarter. Institutional investors and hedge funds 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.