Illinois Tool Works Inc. (NYSE:ITW) Receives Consensus Rating of “Hold” from Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) have earned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $204.00.

A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of Illinois Tool Works from $191.00 to $210.00 and gave the company a “maintains” rating in a report on Wednesday. Credit Suisse Group lifted their price target on shares of Illinois Tool Works from $225.00 to $229.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird set a $213.00 price target on shares of Illinois Tool Works in a report on Tuesday. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $206.00 to $163.00 in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, July 12th.

Insider Buying and Selling at Illinois Tool Works

In other news, EVP Lei Zhang Schlitz sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $205.34, for a total transaction of $205,340.00. Following the transaction, the executive vice president now directly owns 7,803 shares of the company’s stock, valued at approximately $1,602,268.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Allspring Global Investments Holdings LLC purchased a new position in shares of Illinois Tool Works during the 4th quarter worth about $10,704,000. CWM LLC acquired a new stake in Illinois Tool Works during the 4th quarter worth approximately $2,746,000. Centaurus Financial Inc. increased its position in Illinois Tool Works by 6.1% during the 4th quarter. Centaurus Financial Inc. now owns 1,579 shares of the industrial products company’s stock worth $390,000 after purchasing an additional 91 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in Illinois Tool Works by 6.0% during the 4th quarter. Capital Investment Advisory Services LLC now owns 1,707 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 97 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Illinois Tool Works by 4.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 97,562 shares of the industrial products company’s stock worth $24,078,000 after purchasing an additional 4,542 shares in the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Up 1.8 %

ITW opened at $208.54 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.24 and a current ratio of 1.73. Illinois Tool Works has a fifty-two week low of $173.52 and a fifty-two week high of $249.81. The firm’s fifty day moving average is $191.74 and its 200 day moving average is $205.81. The stock has a market cap of $64.95 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Illinois Tool Works (NYSE:ITWGet Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.15. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the company earned $2.10 EPS. Illinois Tool Works’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Illinois Tool Works will post 9.07 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, June 30th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 2.34%. The ex-dividend date was Wednesday, June 29th. Illinois Tool Works’s payout ratio is currently 57.34%.

About Illinois Tool Works

(Get Rating)

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.

Read More

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Want More Great Investing Ideas?

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.