Illinois Tool Works Given Neutral Rating at Credit Suisse (ITW)
Illinois Tool Works (NYSE:ITW)‘s stock had its “neutral” rating restated by equities researchers at Credit Suisse in a research report issued on Thursday, AR Network reports. They currently have a $68.00 price target on the stock. Credit Suisse’s price objective would suggest a potential downside of 21.14% from the stock’s previous close.
Illinois Tool Works (NYSE:ITW) opened at 86.23 on Thursday. Illinois Tool Works has a 1-year low of $67.14 and a 1-year high of $88.00. The stock has a 50-day moving average of $83.92 and a 200-day moving average of $81.35. The company has a market cap of $35.577 billion and a P/E ratio of 21.32.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.98 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company posted $0.96 earnings per share. Illinois Tool Works’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that Illinois Tool Works will post $4.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 8th. Investors of record on Monday, June 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 26th.
A number of other analysts have also recently weighed in on ITW. Analysts at Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research note on Thursday. They now have a $98.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Illinois Tool Works in a research note on Tuesday. They set a “neutral” rating and a $86.00 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Illinois Tool Works in a research note on Friday, April 25th. They now have a $103.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $87.64.
Illinois Tool Works Inc is a multinational manufacturer of a diversified range of industrial products and equipment with operations in 58 countries.
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