Illinois Tool Works (NYSE:ITW) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Illinois Tool Works (NYSE:ITW) was upgraded by Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $257.00 price target on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 1.92% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Stifel Nicolaus cut their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Barclays cut their target price on shares of Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Robert W. Baird increased their price objective 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, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $269.60.

Illinois Tool Works Stock Up 1.5 %

Illinois Tool Works stock opened at $262.03 on Wednesday. The firm has a fifty day moving average price of $257.57 and a two-hundred day moving average price of $258.02. 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 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The firm has a market cap of $77.38 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 4.42 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, analysts forecast that Illinois Tool Works will post 10.41 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

A number of institutional investors have recently bought and sold shares of ITW. Norges Bank bought a new stake in Illinois Tool Works in the 4th quarter valued at about $806,291,000. Raymond James Financial Inc. bought a new stake in Illinois Tool Works in the 4th quarter valued at about $203,949,000. Cerity Partners LLC raised its position in shares of Illinois Tool Works by 263.9% in the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock valued at $229,269,000 after buying an additional 655,341 shares in the last quarter. Northern Trust Corp raised its position in shares of Illinois Tool Works by 3.9% in the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after buying an additional 508,188 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Illinois Tool Works by 36,632.9% in the 4th quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company’s stock valued at $111,209,000 after buying an additional 437,397 shares in the last quarter. 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.