BMO Capital Markets lowered shares of Illinois Tool Works (NYSE:ITW) from an outperform rating to a market perform rating in a research note published on Thursday morning. BMO Capital Markets currently has $180.00 target price on the industrial products company’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Illinois Tool Works from a buy rating to a hold rating in a research note on Wednesday. Morgan Stanley reissued an equal weight rating and issued a $147.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, October 2nd. Bank of America initiated coverage on Illinois Tool Works in a research note on Monday, December 11th. They issued a buy rating and a $190.00 target price on the stock. JPMorgan Chase & Co. raised Illinois Tool Works from an underweight rating to a neutral rating and raised their target price for the stock from $132.00 to $140.00 in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada reissued a hold rating and issued a $143.00 target price on shares of Illinois Tool Works in a research note on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $166.13.

Shares of Illinois Tool Works (ITW) traded down $0.12 during trading hours on Thursday, hitting $166.03. The stock had a trading volume of 1,433,031 shares, compared to its average volume of 1,100,461. Illinois Tool Works has a 52-week low of $120.06 and a 52-week high of $169.69. The company has a market capitalization of $56,881.71, a PE ratio of 25.43, a P/E/G ratio of 2.28 and a beta of 1.18. 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 (NYSE:ITW) last announced its quarterly earnings data on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $1.50 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. research analysts expect that Illinois Tool Works will post 6.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.88%. Illinois Tool Works’s payout ratio is presently 47.78%.

In other Illinois Tool Works news, insider Harold B. Smith sold 30,000 shares of Illinois Tool Works stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction that occurred on Friday, October 20th. The shares were 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 disclosure for this sale can be found here. Insiders sold 214,791 shares of company stock worth $34,665,964 over the last three months. 0.90% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ITW. Omnia Family Wealth LLC boosted its position in Illinois Tool Works by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2 shares in the last quarter. Private Vista LLC boosted its position in Illinois Tool Works by 13,697.3% during the 2nd quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after acquiring an additional 277,508 shares in the last quarter. Harding Loevner LP bought a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $115,000. WFG Advisors LP boosted its position in Illinois Tool Works by 24.7% during the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after acquiring an additional 161 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in Illinois Tool Works by 1.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 17 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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About Illinois Tool Works

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.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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