Illinois Tool Works Inc. (ITW) Given Average Rating of “Hold” by Brokerages
Illinois Tool Works Inc. (NYSE:ITW) has received a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $163.00.
A number of research firms have commented on ITW. Stifel Nicolaus restated a “hold” rating and set a $147.00 price target on shares of Illinois Tool Works in a research note on Wednesday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $147.00 price objective (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Wells Fargo & Company set a $190.00 price objective on Illinois Tool Works and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets increased their price objective on Illinois Tool Works to $180.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $143.00 price objective on shares of Illinois Tool Works in a research note on Wednesday, September 13th.
Illinois Tool Works (NYSE:ITW) traded up $0.19 during trading hours on Friday, reaching $166.49. The company’s stock had a trading volume of 872,400 shares, compared to its average volume of 1,205,586. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48. Illinois Tool Works has a one year low of $120.06 and a one year high of $169.69. The firm has a market capitalization of $56,974.21, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, December 28th. Illinois Tool Works’s payout ratio is currently 47.78%.
In other Illinois Tool Works news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $155.00, for a total value of $1,012,615.00. Following the sale, the insider now directly owns 18,622 shares in the company, valued at $2,886,410. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Norman D. Jr. Finch purchased 4,986 shares of the business’s stock in a transaction on Wednesday, October 25th. The stock was acquired at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the purchase, the vice president now owns 4,371 shares of the company’s stock, valued at $683,362.14. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 191,324 shares of company stock worth $30,653,014. Insiders own 0.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ITW. BlackRock Inc. raised its stake in Illinois Tool Works by 1,661.3% in the first quarter. BlackRock Inc. now owns 19,318,196 shares of the industrial products company’s stock valued at $2,559,083,000 after buying an additional 18,221,359 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Illinois Tool Works by 2,939.8% during the second quarter. Janus Henderson Group PLC now owns 3,752,155 shares of the industrial products company’s stock worth $537,498,000 after purchasing an additional 3,628,722 shares during the last quarter. Vaughan David Investments Inc. IL grew its holdings in shares of Illinois Tool Works by 34,278.6% during the third quarter. Vaughan David Investments Inc. IL now owns 939,568 shares of the industrial products company’s stock worth $35,779,000 after purchasing an additional 936,835 shares during the last quarter. Koch Industries Inc. grew its holdings in shares of Illinois Tool Works by 31,484.3% during the second quarter. Koch Industries Inc. now owns 768,131 shares of the industrial products company’s stock worth $763,000 after purchasing an additional 765,699 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Illinois Tool Works by 100.8% during the second quarter. Parametric Portfolio Associates LLC now owns 1,409,208 shares of the industrial products company’s stock worth $201,869,000 after purchasing an additional 707,287 shares during the last quarter. Institutional investors own 74.83% of the company’s stock.
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Illinois Tool Works Company Profile
Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.
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