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

Illinois Tool Works (NYSE:ITW) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other analysts have also recently issued research reports about the stock. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Barclays cut their price objective on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price objective on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Two investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Up 1.9 %

Shares of NYSE:ITW opened at $261.31 on Wednesday. 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 has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a market capitalization of $77.17 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 3.57 and a beta of 1.11. The company has a fifty day moving average of $263.91 and a 200-day moving average of $255.87.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. Illinois Tool Works’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.55 earnings per share. On average, equities analysts predict that Illinois Tool Works will post 10.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors and hedge funds have recently made changes to their positions in the business. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $28,000. True Wealth Design LLC increased its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $32,000. Ulland Investment Advisors LLC purchased a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Company Profile

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.