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

Illinois Tool Works (NYSE:ITW) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other analysts have also recently weighed in on ITW. Truist Financial dropped their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Barclays dropped their target price on shares of Illinois Tool Works from $217.00 to $215.00 and set an “underweight” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the company an “underweight” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their target price on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $250.22.

Illinois Tool Works Stock Performance

Shares of ITW opened at $251.75 on Friday. The firm has a 50-day moving average of $244.54 and a 200-day moving average of $248.41. Illinois Tool Works has a one year low of $217.50 and a one year high of $271.15. The company has a market cap of $74.74 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.92.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. Illinois Tool Works’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.41 EPS. As a group, equities analysts forecast that Illinois Tool Works will post 10.18 earnings per share for the current year.

Institutional Trading of Illinois Tool Works

Several institutional investors and hedge funds have recently made changes to their positions in ITW. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $26,000. Security National Bank bought a new position in Illinois Tool Works during the fourth quarter worth about $28,000. Financial Connections Group Inc. bought a new position in Illinois Tool Works during the second quarter worth about $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the second quarter worth about $30,000. Finally, Christopher J. Hasenberg Inc bought a new position in Illinois Tool Works during the first quarter worth about $32,000. Hedge funds and other 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.