Illinois Tool Works Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:ITW)
Shares of Illinois Tool Works (NYSE:ITW) have received an average rating of “Hold” from the seventeen analysts that are presently covering the stock, AnalystRatings.NET reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $84.00.
ITW has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Illinois Tool Works to a “neutral” rating in a research note on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, February 4th. They now have a $83.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Illinois Tool Works from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 29th. They now have a $100.00 price target on the stock, up previously from $88.00.
Shares of Illinois Tool Works (NYSE:ITW) opened at 81.48 on Monday. Illinois Tool Works has a 52 week low of $59.71 and a 52 week high of $84.32. The stock has a 50-day moving average of $80.34 and a 200-day moving average of $77.87. The company has a market cap of $34.618 billion and a price-to-earnings ratio of 21.79.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Illinois Tool Works will post $4.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, March 27th.
Illinois Tool Works Inc (NYSE:ITW), is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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