Illinois Tool Works Inc. (NYSE:ITW) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also issued reports on the company. Goldman Sachs Group, Inc. (The) raised Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their price objective for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Stifel Nicolaus lowered Illinois Tool Works from a “buy” rating to a “hold” rating and lifted their price objective for the company from $135.00 to $140.00 in a research note on Monday, March 27th. Credit Suisse Group set a $135.00 price objective on Illinois Tool Works and gave the company a “hold” rating in a research note on Wednesday, April 12th. Jefferies Group LLC reissued a “buy” rating and set a $145.00 price objective on shares of Illinois Tool Works in a research note on Friday, March 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $125.00 price objective on shares of Illinois Tool Works in a research note on Friday, March 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Illinois Tool Works has an average rating of “Buy” and an average price target of $150.91.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Illinois Tool Works (NYSE ITW) traded down 0.28% during mid-day trading on Friday, hitting $145.78. The stock had a trading volume of 1,344,561 shares. The company has a market cap of $50.36 billion, a price-to-earnings ratio of 24.49 and a beta of 1.06. The firm’s 50-day moving average is $141.41 and its 200 day moving average is $132.59. Illinois Tool Works has a 12 month low of $98.32 and a 12 month high of $150.29.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, April 24th. The industrial products company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.09. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Illinois Tool Works had a return on equity of 45.02% and a net margin of 15.24%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. Equities analysts anticipate that Illinois Tool Works will post $6.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is currently 43.70%.

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In other Illinois Tool Works news, insider Michael R. Zimmerman sold 5,000 shares of Illinois Tool Works stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $140.00, for a total transaction of $700,000.00. Following the completion of the sale, the insider now owns 7,626 shares of the company’s stock, valued at $1,067,640. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $144.00, for a total value of $5,251,248.00. Following the sale, the insider now directly owns 55,878 shares of the company’s stock, valued at approximately $8,046,432. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,850 shares of company stock valued at $30,945,971. Corporate insiders own 0.90% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Perigon Wealth Management LLC raised its stake in shares of Illinois Tool Works by 104.9% in the first quarter. Perigon Wealth Management LLC now owns 3,035 shares of the industrial products company’s stock valued at $403,000 after buying an additional 1,554 shares during the period. Piedmont Investment Advisors LLC raised its stake in shares of Illinois Tool Works by 0.8% in the first quarter. Piedmont Investment Advisors LLC now owns 62,546 shares of the industrial products company’s stock valued at $8,285,000 after buying an additional 526 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of Illinois Tool Works during the first quarter valued at about $9,749,000. Bank of Nova Scotia raised its stake in shares of Illinois Tool Works by 910.4% in the first quarter. Bank of Nova Scotia now owns 71,432 shares of the industrial products company’s stock valued at $9,463,000 after buying an additional 64,362 shares during the period. Finally, BSW Wealth Partners purchased a new stake in shares of Illinois Tool Works during the first quarter valued at about $207,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

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