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

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

Several other analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 31st. Argus upgraded Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI cut their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Stifel Nicolaus increased their target price on Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird lifted their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illinois Tool Works has a consensus rating of “Hold” and a consensus target price of $254.90.

Illinois Tool Works Stock Performance

Shares of NYSE:ITW traded down $3.12 on Thursday, hitting $261.21. 1,267,481 shares of the company were exchanged, compared to its average volume of 1,065,887. The company’s 50 day moving average price is $255.27 and its two-hundred day moving average price is $247.37. The firm has a market capitalization of $77.55 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 4.10 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30. Illinois Tool Works has a one year low of $221.82 and a one year high of $271.15.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. Illinois Tool Works had a return on equity of 99.74% and a net margin of 19.15%. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Illinois Tool Works’s revenue was down 1.6% on a year-over-year basis. Research analysts expect that Illinois Tool Works will post 10.13 earnings per share for the current year.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently modified their holdings of the business. Fairscale Capital LLC bought a new stake in shares of Illinois Tool Works in the second quarter valued at about $30,000. Catalyst Capital Advisors LLC acquired a new position in Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. bought a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Illinois Tool Works in the third quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. lifted its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares in the last quarter. Institutional investors 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.