Illinois Tool Works (NYSE:ITW) was upgraded by research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report released on Tuesday, Analyst Ratings Network reports. The firm presently has a $235.00 price objective on the industrial products company’s stock, up from their previous price objective of $209.00. Credit Suisse Group’s target price points to a potential upside of 13.40% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Bank of America raised shares of Illinois Tool Works from an “underperform” rating to a “neutral” rating and raised their target price for the company from $175.00 to $212.00 in a research note on Thursday, October 29th. BidaskClub raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Wells Fargo & Company raised their target price on shares of Illinois Tool Works from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. Smith Barney Citigroup raised their target price on shares of Illinois Tool Works from $203.00 to $211.00 in a research note on Monday, October 26th. Finally, Barclays raised their target price on shares of Illinois Tool Works from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $190.24.

Shares of ITW opened at $207.23 on Tuesday. The firm has a market cap of $65.59 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 4.48 and a beta of 1.08. The company’s fifty day moving average is $205.48 and its two-hundred day moving average is $197.31. Illinois Tool Works has a fifty-two week low of $115.94 and a fifty-two week high of $224.69. The company has a quick ratio of 1.92, a current ratio of 2.37 and a debt-to-equity ratio of 2.81.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Friday, October 23rd. The industrial products company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.38. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $2.94 billion. Illinois Tool Works had a net margin of 16.77% and a return on equity of 80.95%. Illinois Tool Works’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $2.04 EPS. As a group, equities research analysts anticipate that Illinois Tool Works will post 6.41 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Eastern Bank bought a new stake in shares of Illinois Tool Works in the 2nd quarter worth about $9,108,000. PNC Financial Services Group Inc. increased its position in shares of Illinois Tool Works by 1.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 892,087 shares of the industrial products company’s stock worth $155,984,000 after purchasing an additional 8,456 shares during the last quarter. FMR LLC increased its position in shares of Illinois Tool Works by 36.5% in the 2nd quarter. FMR LLC now owns 1,602,863 shares of the industrial products company’s stock worth $280,262,000 after purchasing an additional 428,601 shares during the last quarter. FormulaFolio Investments LLC increased its position in shares of Illinois Tool Works by 46.8% in the 2nd quarter. FormulaFolio Investments LLC now owns 2,145 shares of the industrial products company’s stock worth $375,000 after purchasing an additional 684 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of Illinois Tool Works by 7.3% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 2,691 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 184 shares during the last quarter. 74.24% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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