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

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

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus raised their price target on shares of Illinois Tool Works from $259.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company lowered their target price on Illinois Tool Works from $244.00 to $230.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their price objective on Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Citigroup lifted their target price on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $252.10.

Illinois Tool Works Price Performance

Shares of NYSE ITW opened at $242.62 on Friday. The company has a market capitalization of $72.40 billion, a PE ratio of 23.93, a PEG ratio of 3.69 and a beta of 1.10. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. The stock’s 50 day moving average price is $241.51 and its 200-day moving average price is $251.75. Illinois Tool Works has a twelve month low of $217.50 and a twelve month high of $271.15.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.33 earnings per share. On average, equities analysts anticipate that Illinois Tool Works will post 10.16 EPS for the current year.

Insider Transactions at Illinois Tool Works

In other Illinois Tool Works news, Director David Byron Smith, Jr. acquired 775 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $238.82 per share, with a total value of $185,085.50. Following the completion of the purchase, the director now owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

A number of institutional investors and hedge funds have recently bought and sold shares of ITW. Steele Capital Management Inc. lifted its stake in Illinois Tool Works by 4.9% during the second quarter. Steele Capital Management Inc. now owns 863 shares of the industrial products company’s stock worth $206,000 after purchasing an additional 40 shares during the last quarter. Summit Financial LLC lifted its position in Illinois Tool Works by 1.6% in the 4th quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock worth $685,000 after buying an additional 41 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in Illinois Tool Works by 4.6% in the first quarter. Hanson & Doremus Investment Management now owns 958 shares of the industrial products company’s stock worth $257,000 after buying an additional 42 shares in the last quarter. EP Wealth Advisors LLC grew its position in Illinois Tool Works by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after acquiring an additional 42 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its stake in shares of Illinois Tool Works by 2.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock worth $463,000 after acquiring an additional 43 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other 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.