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

Illinois Tool Works (NYSE:ITW - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

ITW has been the topic of a number of other reports. Citigroup dropped their target price on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday. Jefferies Financial Group increased their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Robert W. Baird lifted their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Evercore ISI lowered Illinois Tool Works from an "in-line" rating to an "underperform" rating and increased their price target for the company from $246.00 to $255.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $270.11.

Illinois Tool Works Stock Up 1.2 %

Shares of ITW stock traded up $3.07 during mid-day trading on Tuesday, hitting $252.77. The stock had a trading volume of 792,320 shares, compared to its average volume of 912,552. The firm has a market capitalization of $74.64 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 4.22 and a beta of 1.11. The firm's 50-day moving average is $265.34 and its two-hundred day moving average is $255.30. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the business posted $2.55 earnings per share. The firm's revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Illinois Tool Works by 41.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company's stock worth $358,321,000 after buying an additional 398,676 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Illinois Tool Works by 26,088.4% in the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company's stock valued at $847,610,000 after buying an additional 322,192 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Illinois Tool Works by 318.9% in the 3rd quarter. National Bank of Canada FI now owns 405,817 shares of the industrial products company's stock valued at $106,352,000 after purchasing an additional 308,935 shares during the period. AXA S.A. raised its holdings in shares of Illinois Tool Works by 242.3% during the second quarter. AXA S.A. now owns 341,356 shares of the industrial products company's stock valued at $80,888,000 after acquiring an additional 241,618 shares during the period. Finally, Geode Capital Management LLC raised its position in Illinois Tool Works by 2.7% during the third quarter. Geode Capital Management LLC now owns 6,292,268 shares of the industrial products company's stock valued at $1,645,972,000 after buying an additional 167,422 shares during the period. 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.

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