Illinois Tool Works (NYSE:ITW) Rating Lowered to Hold at StockNews.com

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

A number of other analysts have also commented on ITW. Barclays lowered their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Truist Financial raised their target price on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $271.00.

Illinois Tool Works Stock Up 0.3 %

NYSE ITW opened at $255.77 on Thursday. 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 stock has a market capitalization of $75.53 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 3.61 and a beta of 1.11. The stock has a fifty day moving average of $260.34 and a 200-day moving average of $257.11.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. On average, equities research analysts forecast that Illinois Tool Works will post 10.14 EPS for the current year.

Institutional Investors Weigh In On Illinois Tool Works

Several large investors have recently made changes to their positions in ITW. Sugar Maple Asset Management LLC bought a new position in Illinois Tool Works during the 4th quarter worth about $28,000. True Wealth Design LLC grew its holdings in shares of Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at approximately $32,000. Ulland Investment Advisors LLC acquired a new position in Illinois Tool Works during the 4th quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Illinois Tool Works during the 3rd quarter worth approximately $35,000. 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.