Illinois Tool Works Reaches New 52-Week High at $88.60 (ITW)
Shares of Illinois Tool Works (NYSE:ITW) reached a new 52-week high on Friday , Analyst Ratings News reports. The stock traded as high as $88.60 and last traded at $88.59, with a volume of 511,599 shares traded. The stock had previously closed at $87.67.
A number of research firms have recently commented on ITW. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Thursday, May 15th. They now have a $68.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Illinois Tool Works in a research note on Thursday, May 15th. They now have a $98.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Illinois Tool Works in a research note on Tuesday, May 13th. They set a “neutral” rating and a $86.00 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’s stock. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $87.64.
The stock’s 50-day moving average is $85.89 and its 200-day moving average is $82.15. The company has a market cap of $36.510 billion and a price-to-earnings ratio of 21.51.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Illinois Tool Works will post $4.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, June 26th.
In other Illinois Tool Works news, Director Robert C. Mccormack sold 98,300 shares of Illinois Tool Works stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $86.71, for a total value of $8,523,593.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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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