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

Illinois Tool Works Inc. (NYSE:ITW) has been assigned a consensus rating of “Hold” from the seventeen analysts that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $141.50.

A number of equities analysts have recently commented on ITW shares. Morgan Stanley dropped their price objective on Illinois Tool Works from $140.00 to $136.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 16th. Credit Suisse Group boosted their price target on Illinois Tool Works from $124.00 to $152.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Stifel Nicolaus set a $143.00 price target on Illinois Tool Works and gave the company a “hold” rating in a research note on Wednesday, October 9th. Northcoast Research lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 price target on the stock. in a research note on Wednesday, June 26th. Finally, Goldman Sachs Group lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $144.00 price target on the stock. in a research note on Monday, September 23rd. They noted that the move was a valuation call.

Shares of Illinois Tool Works stock traded up $1.18 during trading on Monday, reaching $159.49. The company’s stock had a trading volume of 1,456,486 shares, compared to its average volume of 1,306,980. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.30 and a current ratio of 2.87. The business’s fifty day moving average price is $154.04 and its 200-day moving average price is $151.67. The firm has a market cap of $50.77 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.22. Illinois Tool Works has a one year low of $117.75 and a one year high of $161.71.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Friday, July 26th. The industrial products company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.03. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.73 billion. Illinois Tool Works had a return on equity of 76.17% and a net margin of 17.17%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.97 earnings per share. Sell-side analysts anticipate that Illinois Tool Works will post 7.68 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Monday, September 30th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 2.68%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, September 27th. Illinois Tool Works’s payout ratio is currently 56.32%.

In other Illinois Tool Works news, EVP Steven L. Martindale sold 48,622 shares of Illinois Tool Works stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $155.88, for a total transaction of $7,579,197.36. Following the sale, the executive vice president now directly owns 84,546 shares of the company’s stock, valued at $13,179,030.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael R. Zimmerman sold 9,325 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $160.00, for a total value of $1,492,000.00. Following the sale, the insider now directly owns 16,315 shares in the company, valued at $2,610,400. The disclosure for this sale can be found here. Insiders have sold 158,458 shares of company stock worth $25,172,163 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITW. Invesco Ltd. boosted its holdings in Illinois Tool Works by 179.7% during the second quarter. Invesco Ltd. now owns 2,139,052 shares of the industrial products company’s stock valued at $322,590,000 after purchasing an additional 1,374,150 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Illinois Tool Works by 6,875.2% during the second quarter. Nuveen Asset Management LLC now owns 1,237,183 shares of the industrial products company’s stock valued at $186,579,000 after purchasing an additional 1,219,446 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Illinois Tool Works by 2.6% during the second quarter. Vanguard Group Inc. now owns 26,095,477 shares of the industrial products company’s stock valued at $3,935,459,000 after purchasing an additional 659,248 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Illinois Tool Works by 15,116.7% during the second quarter. Thoroughbred Financial Services LLC now owns 661,166 shares of the industrial products company’s stock valued at $66,117,000 after purchasing an additional 656,821 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Illinois Tool Works by 3.0% during the second quarter. BlackRock Inc. now owns 20,244,400 shares of the industrial products company’s stock valued at $3,053,058,000 after purchasing an additional 581,489 shares in the last quarter. 77.57% of the stock is currently 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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