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

Illinois Tool Works Inc. (NYSE:ITW – Get Rating) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $223.07.

Several equities analysts have weighed in on ITW shares. Credit Suisse Group lifted their price objective on Illinois Tool Works from $259.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. StockNews.com started coverage on Illinois Tool Works in a research note on Thursday. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. Morgan Stanley increased their price objective on Illinois Tool Works from $174.00 to $223.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 7th. Finally, Citigroup increased their price objective on Illinois Tool Works from $232.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, February 3rd.

Illinois Tool Works Stock Up 0.8 %

ITW opened at $230.34 on Friday. Illinois Tool Works has a twelve month low of $173.52 and a twelve month high of $253.37. The firm has a market cap of $70.27 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.10. The business has a 50 day moving average price of $233.98 and a 200 day moving average price of $217.47. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.95 and a current ratio of 1.41.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 EPS for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the company posted $1.95 EPS. Illinois Tool Works’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts forecast that Illinois Tool Works will post 9.53 EPS for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, March 31st will be issued a dividend of $1.31 per share. The ex-dividend date is Thursday, March 30th. This represents a $5.24 annualized dividend and a dividend yield of 2.27%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 53.58%.

Insider Activity at Illinois Tool Works

In related news, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the transaction, the chief executive officer now directly owns 213,538 shares in the company, valued at $52,592,274.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Illinois Tool Works news, CEO Ernest Scott Santi sold 235,656 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the transaction, the chief executive officer now owns 213,538 shares in the company, valued at approximately $52,592,274.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the completion of the transaction, the insider now owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The disclosure for this sale can be found here. 0.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Illinois Tool Works

A number of large investors have recently made changes to their positions in ITW. Hexagon Capital Partners LLC purchased a new position in shares of Illinois Tool Works in the 3rd quarter valued at about $26,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Red Tortoise LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $33,000. Standard Family Office LLC acquired a new stake in Illinois Tool Works in the 3rd quarter valued at about $39,000. Finally, AXS Investments LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 79.83% of the company’s stock.

About Illinois Tool Works

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.