Illinois Tool Works (NYSE:ITW) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Illinois Tool Works (NYSE:ITW) from a hold rating to a buy rating in a report issued on Wednesday morning.

Several other equities research analysts also recently commented on the stock. Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group boosted their target price on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Barclays reduced their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Robert W. Baird upped 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. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illinois Tool Works has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Down 0.9 %

ITW opened at $259.02 on Wednesday. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. 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 firm’s fifty day moving average price is $263.71 and its two-hundred day moving average price is $256.07. The company has a market capitalization of $76.49 billion, a P/E ratio of 22.41, a P/E/G ratio of 3.57 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly 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 net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company earned $2.55 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Illinois Tool Works will post 10.13 EPS for the current year.

Institutional Trading of Illinois Tool Works

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC raised its holdings in Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth about $32,000. Ulland Investment Advisors LLC bought a new stake in Illinois Tool Works during the 4th quarter worth about $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the 3rd quarter worth about $35,000. 79.77% of the stock is owned by institutional investors.

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.