Illinois Tool Works Receives Average Recommendation of “Hold” from Analysts (NYSE:ITW)
Shares of Illinois Tool Works (NYSE:ITW) have earned an average recommendation of “Hold” from the fourteen analysts that are covering the stock, AnalystRatingsNetwork reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $89.57.
ITW has been the subject of a number of recent research reports. Analysts at ISI Group upgraded shares of Illinois Tool Works from a “neutral” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $92.00 price target on the stock, up previously from $90.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Illinois Tool Works in a research note on Tuesday, August 5th. They now have a $87.00 price target on the stock. Finally, analysts at Argus upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a research note on Wednesday, July 9th. They now have a $102.00 price target on the stock.
Illinois Tool Works (NYSE:ITW) opened at 88.50 on Thursday. Illinois Tool Works has a one year low of $71.07 and a one year high of $89.50. The stock has a 50-day moving average of $85.54 and a 200-day moving average of $84.41. The company has a market cap of $35.091 billion and a price-to-earnings ratio of 13.56.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.01. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that Illinois Tool Works will post $4.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, September 26th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.42.
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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