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

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

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their price target on shares of Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial lifted their price target on Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup reduced their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $270.11.

Illinois Tool Works Trading Up 0.4 %

ITW opened at $253.99 on Tuesday. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13. The company has a market capitalization of $75.00 billion, a P/E ratio of 21.97, a PEG ratio of 4.22 and a beta of 1.11. The stock’s fifty day moving average is $265.34 and its two-hundred day moving average is $255.30. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $2.55 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts forecast that Illinois Tool Works will post 10.13 earnings per share for the current year.

Hedge Funds Weigh In On Illinois Tool Works

Hedge funds have recently modified their holdings of the stock. Aaron Wealth Advisors LLC grew its position in Illinois Tool Works by 11.7% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,234 shares of the industrial products company’s stock worth $820,000 after purchasing an additional 338 shares during the last quarter. Sandy Cove Advisors LLC lifted its stake in shares of Illinois Tool Works by 5.2% during the fourth quarter. Sandy Cove Advisors LLC now owns 4,104 shares of the industrial products company’s stock worth $1,041,000 after buying an additional 202 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in shares of Illinois Tool Works by 16.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,051 shares of the industrial products company’s stock valued at $266,000 after buying an additional 146 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of Illinois Tool Works by 18.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,069 shares of the industrial products company’s stock valued at $1,285,000 after acquiring an additional 773 shares during the period. Finally, HB Wealth Management LLC raised its stake in Illinois Tool Works by 1.7% in the 4th quarter. HB Wealth Management LLC now owns 20,201 shares of the industrial products company’s stock worth $5,122,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds 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.