Illinois Tool Works Inc. (ITW) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average recommendation of “Buy” from the sixteen analysts that are presently covering the stock. Eight investment analysts have rated the stock with a hold rating and eight 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 $108.71.
A number of analysts have recently issued reports on ITW shares. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Friday, September 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Illinois Tool Works in a research report on Thursday, August 25th. Jefferies Group raised their price objective on Illinois Tool Works from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 11th. Royal Bank Of Canada lifted their price target on Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 21st. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $104.00 price target (up from $101.00) on shares of Illinois Tool Works in a report on Sunday, July 24th.
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.36% during mid-day trading on Wednesday, reaching $115.49. 1,061,653 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $118.03 and a 200-day moving average price of $111.03. Illinois Tool Works has a 1-year low of $79.15 and a 1-year high of $123.50. The company has a market capitalization of $40.99 billion, a P/E ratio of 21.51 and a beta of 1.11.
Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.06. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. The company earned $3.43 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same period last year, the firm posted $1.30 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Illinois Tool Works will post $5.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Friday, September 30th were paid a $0.65 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, September 28th. This represents a $2.60 annualized dividend and a dividend yield of 2.26%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 48.42%.
In related news, Vice Chairman David C. Parry sold 40,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $118.49, for a total transaction of $4,739,600.00. Following the sale, the insider now owns 40,584 shares in the company, valued at approximately $4,808,798.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 14,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $113.99, for a total value of $1,595,860.00. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the company. Hudock Capital Group LLC raised its stake in shares of Illinois Tool Works by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,037 shares of the company’s stock worth $108,000 after buying an additional 5 shares in the last quarter. Nadler Financial Group Inc. raised its stake in shares of Illinois Tool Works by 0.4% in the third quarter. Nadler Financial Group Inc. now owns 3,223 shares of the company’s stock worth $386,000 after buying an additional 12 shares in the last quarter. PacWest Financial Management Inc raised its stake in shares of Illinois Tool Works by 0.4% in the second quarter. PacWest Financial Management Inc now owns 4,470 shares of the company’s stock worth $466,000 after buying an additional 20 shares in the last quarter. Albert D Mason Inc. raised its stake in shares of Illinois Tool Works by 0.3% in the second quarter. Albert D Mason Inc. now owns 6,690 shares of the company’s stock worth $697,000 after buying an additional 20 shares in the last quarter. Finally, Washington Trust Bank raised its stake in shares of Illinois Tool Works by 1.8% in the second quarter. Washington Trust Bank now owns 1,391 shares of the company’s stock worth $145,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 74.89% of the company’s stock.
Illinois Tool Works Company Profile
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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