Morgan Stanley Maintains Equal-Weight Rating on Illinois Tool Wors
According to Morgan Stanley, Illinois Tool Works (NYSE: ITW) Equal-Weight rating is maintained.
Morgan Stanley said that ITW announced that Relational Investors, an activist fund based in San Diego CA, has taken a 2.1% shareholding and acquired the right to appoint David Batchelder, Relational's principal and co-founder, to ITW's Board following its 2012 stockholder meeting. “We maintain our EW rating but highlight relatively attractive upside to our base case.”
Illinois Tool Works closed on Friday at $49.37.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.