Deutsche Bank Reiterates Hold Rating for Illinois Tool Works (ITW)

Illinois Tool Works (NYSE:ITW)‘s stock had its “hold” rating reiterated by stock analysts at Deutsche Bank in a report released on Monday.

Several other brokerages have also recently issued reports on ITW. Robert W. Baird set a $130.00 target price on Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Wells Fargo & Co set a $145.00 target price on Illinois Tool Works and gave the company a “buy” rating in a research report on Thursday, October 25th. Seaport Global Securities cut Illinois Tool Works from a “buy” rating to a “neutral” rating and dropped their target price for the company from $170.00 to $132.00 in a research report on Thursday, October 25th. Finally, Morgan Stanley started coverage on Illinois Tool Works in a research report on Monday, August 20th. They set an “equal weight” rating and a $146.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $147.69.

Shares of NYSE:ITW opened at $132.76 on Monday. Illinois Tool Works has a 52-week low of $119.38 and a 52-week high of $179.07. The company has a market capitalization of $46.14 billion, a P/E ratio of 20.15, a PEG ratio of 1.85 and a beta of 1.28. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 1.71.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. Illinois Tool Works had a return on equity of 63.11% and a net margin of 12.69%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. Illinois Tool Works’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Illinois Tool Works will post 7.6 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its holdings in shares of Illinois Tool Works by 540.9% during the 3rd quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 622 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Illinois Tool Works by 220.1% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 548 shares during the last quarter. Sun Life Financial INC lifted its holdings in shares of Illinois Tool Works by 277.2% during the 2nd quarter. Sun Life Financial INC now owns 826 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 607 shares during the last quarter. Fort L.P. purchased a new stake in shares of Illinois Tool Works during the 2nd quarter valued at $117,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Illinois Tool Works by 180.4% during the 3rd quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 563 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Featured Article: What is a balanced fund?

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply