Insider Buying: Illinois Tool Works Director Acquires 1,000 Shares of Stock (ITW)
Illinois Tool Works (NYSE:ITW) Director Richard H. Lenny purchased 1,000 shares of Illinois Tool Works stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $89.17 per share, with a total value of $89,170.00. Following the completion of the acquisition, the director now directly owns 1,008 shares of the company’s stock, valued at approximately $89,883. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.36% on Monday, hitting $88.82. The stock had a trading volume of 1,095,457 shares. Illinois Tool Works has a 52 week low of $71.07 and a 52 week high of $89.50. The stock’s 50-day moving average is $85.54 and its 200-day moving average is $84.41. The company has a market cap of $35.218 billion and a price-to-earnings ratio of 13.47.
Illinois Tool Works (NYSE:ITW) last announced its 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. On average, analysts predict that Illinois Tool Works will post $4.59 earnings per share 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.
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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $89.57.
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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