Illinois Tool Works (NYSE:ITW) Stock Rating Lowered by Evercore ISI

Illinois Tool Works (NYSE:ITW) was downgraded by stock analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $255.00 price objective on the industrial products company’s stock, up from their prior price objective of $246.00. Evercore ISI’s price target suggests a potential downside of 5.52% from the stock’s current price.

Several other equities research analysts have also recently commented on ITW. Barclays boosted their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, November 1st. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus increased their price target on shares of Illinois Tool Works from $260.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $257.30.

Illinois Tool Works Stock Down 1.1 %

Shares of NYSE:ITW opened at $269.89 on Wednesday. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $277.58. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. The company’s 50-day moving average price is $259.02 and its two-hundred day moving average price is $248.61. The firm has a market cap of $79.70 billion, a P/E ratio of 23.61, a P/E/G ratio of 4.21 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.12. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 EPS. As a group, research analysts forecast that Illinois Tool Works will post 10.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Illinois Tool Works

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in Illinois Tool Works in the third quarter worth about $2,433,000. True Wealth Design LLC raised its stake in shares of Illinois Tool Works by 1,060.0% in 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 during the period. Cobblestone Capital Advisors LLC NY raised its stake in Illinois Tool Works by 2.7% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 2,844 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 76 shares during the period. Kolinsky Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the 3rd quarter valued at $207,000. Finally, Captrust Financial Advisors lifted its position in shares of Illinois Tool Works by 9.9% in the third quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock valued at $10,405,000 after acquiring an additional 3,581 shares in the last quarter. 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.