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

Illinois Tool Works Inc. (NYSE:ITW) has been assigned an average rating of “Reduce” from the fourteen analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $261.0769.

Several research firms recently issued reports on ITW. Weiss Ratings restated a “buy (b-)” rating on shares of Illinois Tool Works in a research report on Friday, October 31st. Truist Financial cut their price target on shares of Illinois Tool Works from $298.00 to $275.00 and set a “hold” rating for the company in a report on Monday, October 27th. Evercore ISI decreased their price objective on Illinois Tool Works from $261.00 to $253.00 and set an “underperform” rating on the stock in a report on Monday, November 17th. The Goldman Sachs Group cut Illinois Tool Works from a “neutral” rating to a “sell” rating and cut their target price for the stock from $258.00 to $230.00 in a research note on Tuesday, December 16th. Finally, Robert W. Baird set a $265.00 price target on Illinois Tool Works in a research note on Monday, October 27th.

Illinois Tool Works Stock Performance

NYSE ITW opened at $262.70 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.11 and a current ratio of 1.53. The stock’s fifty day moving average is $253.06 and its two-hundred day moving average is $254.92. The firm has a market capitalization of $76.21 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 13.83 and a beta of 1.15. Illinois Tool Works has a fifty-two week low of $214.66 and a fifty-two week high of $278.13.

Insiders Place Their Bets

In other Illinois Tool Works news, Director Pamela B. Strobel sold 1,521 shares of Illinois Tool Works stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $245.25, for a total transaction of $373,025.25. Following the completion of the sale, the director directly owned 39,249 shares in the company, valued at $9,625,817.25. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Illinois Tool Works

Hedge funds have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC raised its position in Illinois Tool Works by 6.4% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,192 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 193 shares during the period. Aprio Wealth Management LLC grew its stake in shares of Illinois Tool Works by 6.6% in the fourth quarter. Aprio Wealth Management LLC now owns 1,663 shares of the industrial products company’s stock valued at $415,000 after buying an additional 103 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Illinois Tool Works by 2.2% in the 4th quarter. D.A. Davidson & CO. now owns 16,956 shares of the industrial products company’s stock valued at $4,176,000 after buying an additional 365 shares during the period. S.A. Mason LLC lifted its stake in Illinois Tool Works by 8.2% during the 4th quarter. S.A. Mason LLC now owns 1,162 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 88 shares in the last quarter. Finally, Atlas Legacy Advisors LLC boosted its holdings in Illinois Tool Works by 14.8% during the 4th quarter. Atlas Legacy Advisors LLC now owns 1,527 shares of the industrial products company’s stock valued at $376,000 after acquiring an additional 197 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 (ITW) is a diversified industrial manufacturer that designs and produces a broad array of engineered products, consumables and related service solutions for industrial customers. Its offerings span engineered fastening systems, specialty components, industrial equipment, welding products, foodservice and packaging equipment, adhesives and polymer products, and test-and-measurement technologies. These products are used as critical inputs by customers across automotive, construction, electronics, foodservice, maintenance and other industrial end markets.

The company operates a decentralized business model in which independently managed businesses focus on niche product lines and close customer relationships.