Morgan Stanley Maintains Equal-Weight Rating on Illinois Tool Wors

According to Morgan Stanley, Illinois Tool Works

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.