Deutsche Bank Aktiengesellschaft Upgrades Illinois Tool Works (NYSE:ITW) to “Hold”

Illinois Tool Works (NYSE:ITW) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $257.00 price target on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential downside of 3.17% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Evercore ISI lowered shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Price Performance

Shares of Illinois Tool Works stock opened at $265.42 on Wednesday. The stock has a market capitalization of $77.90 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 4.49 and a beta of 1.11. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The firm has a fifty day simple moving average of $257.23 and a 200-day simple moving average of $258.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. On average, sell-side analysts expect that Illinois Tool Works will post 10.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ITW. Nikulski Financial Inc. grew its holdings in shares of Illinois Tool Works by 3.6% during the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 39 shares during the last quarter. Baron Wealth Management LLC grew its holdings in shares of Illinois Tool Works by 4.5% during the fourth quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of Illinois Tool Works by 2.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company’s stock worth $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Illinois Tool Works by 0.9% during the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company’s stock worth $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Illinois Tool Works by 1.1% during the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company’s stock worth $957,000 after purchasing an additional 41 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

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.