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

Illinois Tool Works Inc. (NYSE:ITWGet Rating) has been given an average recommendation of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $202.00.

A number of research analysts have weighed in on ITW shares. StockNews.com raised shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. UBS Group lowered shares of Illinois Tool Works from a “buy” rating to a “neutral” rating and reduced their price target for the company from $243.00 to $185.00 in a research report on Friday, July 8th. Stifel Nicolaus reduced their price target on shares of Illinois Tool Works from $206.00 to $163.00 in a research report on Monday, July 18th. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $180.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 3rd. Finally, 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 research report on Wednesday, August 3rd.

Illinois Tool Works Trading Down 2.0 %

ITW opened at $188.89 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.48 and a quick ratio of 1.02. The company’s 50 day simple moving average is $201.49 and its two-hundred day simple moving average is $200.51. Illinois Tool Works has a 1-year low of $173.52 and a 1-year high of $249.81. The firm has a market capitalization of $58.48 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12.

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, topping analysts’ consensus estimates of $2.21 by $0.16. Illinois Tool Works had a net margin of 17.44% and a return on equity of 75.41%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period last year, the company posted $2.10 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Analysts expect that Illinois Tool Works will post 9.08 EPS for the current fiscal year.

Illinois Tool Works Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $1.31 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $1.22. The ex-dividend date is Thursday, September 29th. This represents a $5.24 annualized dividend and a dividend yield of 2.77%. Illinois Tool Works’s payout ratio is 57.89%.

Hedge Funds Weigh In On Illinois Tool Works

Institutional investors have recently modified their holdings of the business. Cornerstone Wealth Management LLC grew its stake in shares of Illinois Tool Works by 5.4% in the first quarter. Cornerstone Wealth Management LLC now owns 1,784 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 91 shares in the last quarter. AIA Group Ltd grew its stake in shares of Illinois Tool Works by 43.9% in the first quarter. AIA Group Ltd now owns 3,271 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 998 shares in the last quarter. Beaumont Financial Partners LLC lifted its position in shares of Illinois Tool Works by 6.7% during the 1st quarter. Beaumont Financial Partners LLC now owns 1,165 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 73 shares during the last quarter. Veriti Management LLC lifted its position in shares of Illinois Tool Works by 4.4% during the 1st quarter. Veriti Management LLC now owns 3,707 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 156 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Illinois Tool Works during the 1st quarter worth $1,656,000. Institutional investors and hedge funds own 79.68% of the company’s stock.

Illinois Tool Works Company Profile

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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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