Illinois Tool Works Inc. (NYSE:ITW) Receives Average Rating of “Hold” from Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been given an average rating of “Hold” by the ten brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $271.00.

A number of analysts recently commented on ITW shares. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Citigroup dropped their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Barclays dropped their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Jefferies Financial Group lifted their target price on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th.

Illinois Tool Works Stock Up 1.6 %

ITW stock opened at $260.04 on Friday. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The business has a fifty day moving average price of $258.74 and a 200-day moving average price of $257.57. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.97. The stock has a market capitalization of $76.79 billion, a P/E ratio of 22.19, a P/E/G ratio of 4.79 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts forecast that Illinois Tool Works will post 10.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illinois Tool Works

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB raised its position in Illinois Tool Works by 2.0% during the 3rd quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock valued at $23,066,000 after purchasing an additional 1,768 shares in the last quarter. Jamison Private Wealth Management Inc. grew its stake in Illinois Tool Works by 11.1% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 762 shares of the industrial products company’s stock worth $200,000 after buying an additional 76 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in Illinois Tool Works by 4.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,474 shares of the industrial products company’s stock valued at $910,000 after purchasing an additional 151 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Illinois Tool Works by 3.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 35,115 shares of the industrial products company’s stock valued at $9,203,000 after purchasing an additional 1,094 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Illinois Tool Works by 24.6% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 5,058 shares of the industrial products company’s stock valued at $1,326,000 after purchasing an additional 998 shares during the last quarter. 79.77% of the stock is owned by institutional investors.

Illinois Tool Works Company Profile

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.