Illinois Tool Works (NYSE:ITW) Upgraded to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works (NYSE:ITW) from a sell rating to a hold rating in a report issued on Wednesday morning, Marketbeat reports. The firm currently has $257.00 target price on the industrial products company’s stock.

Several other brokerages have also recently issued reports on ITW. JPMorgan Chase & Co. dropped their price objective on Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird increased their price objective on Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, StockNews.com cut Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Illinois Tool Works has an average rating of “Hold” and a consensus price target of $269.30.

Illinois Tool Works Trading Up 0.7 %

Shares of NYSE ITW opened at $264.04 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. The business’s 50 day moving average price is $257.39 and its 200-day moving average price is $258.07. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The company has a market cap of $77.97 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 4.42 and a beta of 1.11.

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

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, March 31st. This represents a $6.00 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio is presently 51.19%.

Hedge Funds Weigh In On Illinois Tool Works

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

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.