Jefferies Group Reiterates “Buy” Rating for Illinois Tool Works (ITW)
Illinois Tool Works (NYSE:ITW)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a research note issued on Thursday, Stock Ratings News reports. They currently have a $98.00 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 13.65% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Illinois Tool Works in a research note on Wednesday, April 23rd. They now have a $95.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Illinois Tool Works currently has an average rating of “Hold” and an average price target of $87.64.
Illinois Tool Works (NYSE:ITW) opened at 86.23 on Thursday. Illinois Tool Works has a one year low of $67.14 and a one year high of $88.00. The stock’s 50-day moving average is $83.92 and its 200-day moving average is $81.35. The company has a market cap of $35.577 billion and a price-to-earnings ratio of 21.32.
Illinois Tool Works (NYSE:ITW) last released its earnings data on Tuesday, April 22nd. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. 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. Stockholders 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.
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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