Illinois Tool Works Inc. (ITW) Receives Consensus Rating of “Hold” from Brokerages
Illinois Tool Works Inc. (NYSE:ITW) has been given a consensus rating of “Hold” by the sixteen brokerages that are presently covering the company. Nine analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $107.69.
ITW has been the topic of several research reports. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Deutsche Bank AG reissued 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 reissued a “buy” rating on shares of Illinois Tool Works in a research report on Monday, October 24th. Finally, Goldman Sachs Group Inc. lowered Illinois Tool Works from a “buy” rating to a “neutral” rating and set a $123.00 price objective on the stock. in a research report on Monday, November 21st. They noted that the move was a valuation call.
In other Illinois Tool Works news, Vice Chairman David C. Parry sold 31,037 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $124.26, for a total value of $3,856,657.62. Following the completion of the transaction, the insider now directly owns 31,621 shares in the company, valued at $3,929,225.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Henderson bought 4,000 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was bought at an average price of $111.94 per share, with a total value of $447,760.00. Following the completion of the purchase, the director now owns 4,000 shares of the company’s stock, valued at $447,760. The disclosure for this purchase can be found here. 0.80% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ITW. Washington Trust Bank increased its position 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 during the last quarter. Nadler Financial Group Inc. increased its position in shares of Illinois Tool Works by 3.6% in the second quarter. Nadler Financial Group Inc. now owns 3,211 shares of the company’s stock worth $334,000 after buying an additional 112 shares during the last quarter. Indiana Trust & Investment Management CO increased its position in shares of Illinois Tool Works by 1.9% in the second quarter. Indiana Trust & Investment Management CO now owns 2,691 shares of the company’s stock worth $280,000 after buying an additional 49 shares during the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of Illinois Tool Works by 34.5% in the second quarter. Stock Yards Bank & Trust Co. now owns 15,081 shares of the company’s stock worth $1,571,000 after buying an additional 3,872 shares during the last quarter. Finally, Lebenthal Asset Management LLC bought a new position in shares of Illinois Tool Works during the first quarter worth approximately $4,737,000. Institutional investors own 74.51% of the company’s stock.
Shares of Illinois Tool Works (NYSE:ITW) opened at 125.77 on Wednesday. The stock has a 50 day moving average price of $117.87 and a 200-day moving average price of $113.72. The stock has a market capitalization of $44.15 billion, a PE ratio of 22.96 and a beta of 1.06. Illinois Tool Works has a 52-week low of $79.15 and a 52-week high of $125.77.
Illinois Tool Works (NYSE:ITW) last issued its earnings results on Thursday, October 20th. The company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. Illinois Tool Works had a return on equity of 39.18% and a net margin of 14.68%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Illinois Tool Works will post $5.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 11th. Shareholders of record on Friday, December 30th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $2.60 dividend on an annualized basis and a yield of 2.07%. Illinois Tool Works’s payout ratio is currently 47.45%.
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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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