Illinois Tool Works Inc. (ITW) Given Average Recommendation of “Hold” by Brokerages
Illinois Tool Works Inc. (NYSE:ITW) has received an average rating of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $157.21.
A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $147.00 price objective on shares of Illinois Tool Works in a research report on Wednesday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $147.00 price objective (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. Robert W. Baird set a $145.00 price objective on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, BidaskClub cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd.
In other Illinois Tool Works news, insider Steven L. Martindale sold 64,818 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $157.19, for a total transaction of $10,188,741.42. Following the completion of the sale, the insider now directly owns 95,328 shares in the company, valued at $14,984,608.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. Insiders sold a total of 126,506 shares of company stock valued at $19,801,832 over the last quarter. 0.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ITW. Omnia Family Wealth LLC lifted its position in Illinois Tool Works by 0.3% during the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 2 shares during the last quarter. Private Vista LLC lifted its position in Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 277,508 shares during the last quarter. Harding Loevner LP acquired a new stake in Illinois Tool Works during the second quarter worth approximately $115,000. WFG Advisors LP lifted its position in Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after acquiring an additional 161 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Illinois Tool Works by 1.9% during the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.
Illinois Tool Works (NYSE:ITW) traded up $0.79 during trading hours on Monday, reaching $157.14. The company’s stock had a trading volume of 757,000 shares, compared to its average volume of 1,212,340. Illinois Tool Works has a 12-month low of $120.06 and a 12-month high of $159.36. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. The firm has a market cap of $54,070.00, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.16.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 EPS. analysts forecast that Illinois Tool Works will post 6.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a $0.78 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a yield of 1.99%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.85%.
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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