Illinois Tool Works (NYSE:ITW) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works (NYSE:ITW - Free Report) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. The firm currently has $257.00 price objective on the industrial products company's stock.

ITW has been the subject of a number of other research reports. StockNews.com lowered Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Truist Financial raised their price objective on Illinois Tool Works from $312.00 to $318.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Robert W. Baird boosted their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Evercore ISI cut shares of Illinois Tool Works from an "in-line" rating to an "underperform" rating and raised their price target for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Illinois Tool Works currently has a consensus rating of "Hold" and a consensus target price of $269.30.

Illinois Tool Works Trading Down 0.5 %

Shares of NYSE ITW traded down $1.25 during trading hours on Wednesday, reaching $264.30. The stock had a trading volume of 913,015 shares, compared to its average volume of 954,818. The business's fifty day moving average price is $257.23 and its two-hundred day moving average price is $258.12. The firm has a market cap of $77.57 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 4.52 and a beta of 1.11. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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%. Analysts expect that Illinois Tool Works will post 10.41 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Illinois Tool Works in the 4th quarter worth approximately $806,291,000. Raymond James Financial Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at $203,949,000. Cerity Partners LLC increased its stake in shares of Illinois Tool Works by 263.9% in the fourth quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company's stock worth $229,269,000 after acquiring an additional 655,341 shares during the period. Northern Trust Corp raised its holdings in shares of Illinois Tool Works by 3.9% during the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company's stock worth $3,465,570,000 after purchasing an additional 508,188 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Illinois Tool Works by 36,632.9% during the fourth quarter. Proficio Capital Partners LLC now owns 438,591 shares of the industrial products company's stock valued at $111,209,000 after purchasing an additional 437,397 shares during the period. 79.77% of the stock is owned by institutional investors and hedge funds.

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.