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

Illinois Tool Works (NYSE:ITW) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $257.00 target price on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential downside of 1.92% from the stock’s current price.

Several other brokerages have also recently issued reports on ITW. Truist Financial upped their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group upped their price objective 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. Evercore ISI lowered shares of 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 note on Wednesday, November 13th. StockNews.com lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two equities research 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, the stock presently has an average rating of “Hold” and a consensus price target of $269.60.

Illinois Tool Works Price Performance

ITW stock opened at $262.03 on Wednesday. The company has a 50 day simple moving average of $257.57 and a 200 day simple moving average of $258.02. The stock has a market cap of $77.38 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 4.42 and a beta of 1.11. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Research analysts anticipate that Illinois Tool Works will post 10.41 EPS for the current fiscal year.

Institutional Trading of Illinois Tool Works

Several institutional investors and hedge funds have recently made changes to their positions in ITW. Vanguard Group Inc. increased its holdings in Illinois Tool Works by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 26,326,996 shares of the industrial products company’s stock worth $6,675,473,000 after buying an additional 94,601 shares during the last quarter. Northern Trust Corp boosted its position in shares of Illinois Tool Works by 3.9% in the fourth quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock valued at $3,465,570,000 after acquiring an additional 508,188 shares during the period. State Street Corp boosted its position in shares of Illinois Tool Works by 1.2% in the third quarter. State Street Corp now owns 12,434,001 shares of the industrial products company’s stock valued at $3,277,127,000 after acquiring an additional 149,272 shares during the period. Geode Capital Management LLC boosted its position in shares of Illinois Tool Works by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 6,392,021 shares of the industrial products company’s stock valued at $1,620,491,000 after acquiring an additional 99,753 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Illinois Tool Works by 1.8% in the fourth quarter. Capital Research Global Investors now owns 4,132,493 shares of the industrial products company’s stock valued at $1,047,837,000 after acquiring an additional 71,934 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.