Illinois Tool Works Upgraded by ISI Group to “Neutral” (ITW)
Illinois Tool Works (NYSE:ITW) was upgraded by equities research analysts at ISI Group to a “neutral” rating in a research note issued to investors on Monday, StockRatingsNetwork.com reports.
Shares of Illinois Tool Works (NYSE:ITW) opened at 81.48 on Monday. Illinois Tool Works has a 1-year low of $59.71 and a 1-year high of $84.32. The stock’s 50-day moving average is $80.34 and its 200-day moving average is $77.87. The company has a market cap of $34.618 billion and a P/E ratio of 21.60.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.89 earnings per share. The company’s quarterly revenue 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 declared a quarterly dividend, which is scheduled for Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 27th.
A number of other firms have also recently commented on ITW. 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. Separately, 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $84.00.
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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