Illinois Tool Works Sees Unusually High Options Volume (ITW)
Illinois Tool Works Inc. (NYSE:ITW) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 6,139 put options on the company. This represents an increase of approximately 1,644% compared to the average volume of 352 put options.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a research note on Friday. Bank of America assumed coverage on shares of Illinois Tool Works in a research note on Monday, December 11th. They issued a “buy” rating and a $190.00 price objective on the stock. BMO Capital Markets lowered shares of Illinois Tool Works from an “outperform” rating to a “market perform” rating and set a $180.00 price target on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $166.00 price target on shares of Illinois Tool Works in a research report on Tuesday, December 5th. Finally, Robert W. Baird restated a “hold” rating and set a $160.00 price target on shares of Illinois Tool Works in a research report on Sunday, December 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Illinois Tool Works currently has a consensus rating of “Hold” and a consensus target price of $166.31.
In other news, EVP Juan Valls sold 48,622 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now owns 71,101 shares in the company, valued at $11,143,659.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven L. Martindale sold 64,818 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now owns 95,328 shares in the company, valued at approximately $14,984,608.32. The disclosure for this sale can be found here. Insiders sold 214,791 shares of company stock worth $34,665,964 in the last quarter. Company insiders own 0.90% of the company’s stock.
Shares of Illinois Tool Works (NYSE ITW) opened at $170.52 on Monday. The company has a market cap of $58,420.00, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.35 and a beta of 1.18. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48. Illinois Tool Works has a 52-week low of $122.25 and a 52-week high of $171.52.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business earned $1.50 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts expect that Illinois Tool Works will post 6.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were given a $0.78 dividend. The ex-dividend date was Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.83%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.85%.
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.
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