Illinois Tool Works Inc. (NYSE:ITW) Given Average Rating of “Hold” by Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $271.00.

A number of research firms have recently issued reports on ITW. Citigroup dropped 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, January 13th. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Barclays decreased their price target on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Jefferies Financial Group increased their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds have recently made changes to their positions in ITW. Swedbank AB grew its holdings in shares of Illinois Tool Works by 2.0% during the third quarter. Swedbank AB now owns 88,015 shares of the industrial products company’s stock worth $23,066,000 after buying an additional 1,768 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in Illinois Tool Works by 11.1% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 762 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 76 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of 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 acquiring an additional 151 shares during the period. Vontobel Holding Ltd. lifted its position in shares of 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 acquiring an additional 1,094 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of 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 acquiring an additional 998 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

NYSE ITW opened at $260.04 on Friday. The stock has a 50-day moving average of $258.74 and a 200 day moving average of $257.57. Illinois Tool Works has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market capitalization of $76.79 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 4.79 and a beta of 1.11. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last announced its earnings results 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%. Sell-side analysts anticipate that Illinois Tool Works will post 10.38 EPS for the current fiscal year.

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.