Illinois Tool Works (NYSE:ITW) Stock Rating Lowered by StockNews.com

Illinois Tool Works (NYSE:ITW) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other analysts also recently issued reports about the stock. Jefferies Financial Group upped their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Stifel Nicolaus lowered their target price on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday. Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and an average target price of $271.00.

Illinois Tool Works Trading Up 0.3 %

Illinois Tool Works stock opened at $255.77 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13. The company’s fifty day simple moving average is $260.34 and its 200-day simple moving average is $257.11. The stock has a market cap of $75.53 billion, a P/E ratio of 22.13, a P/E/G ratio of 3.61 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 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. As a group, sell-side analysts forecast that Illinois Tool Works will post 10.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently added to or reduced their stakes in ITW. Sugar Maple Asset Management LLC acquired a new stake in shares of Illinois Tool Works during the fourth quarter worth approximately $28,000. True Wealth Design LLC increased 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 valued at $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $33,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Illinois Tool Works during the third quarter worth $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.