Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Rating of “Hold” by Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITWGet Rating) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $204.00.

ITW has been the topic of several recent analyst reports. Citigroup lifted their price target on Illinois Tool Works from $191.00 to $210.00 and gave the stock a “maintains” rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on Illinois Tool Works from $206.00 to $163.00 in a research report on Monday, July 18th. UBS Group cut Illinois Tool Works from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $243.00 to $185.00 in a research report on Friday, July 8th. Barclays lowered their price objective on Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a research report on Friday, July 8th. Finally, Morgan Stanley boosted their price objective on Illinois Tool Works from $182.00 to $191.00 and gave the company an “underweight” rating in a research report on Wednesday.

Illinois Tool Works Stock Up 1.8 %

ITW opened at $208.54 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.24 and a current ratio of 1.73. The business has a 50 day moving average price of $191.74 and a 200 day moving average price of $205.81. The firm has a market cap of $64.95 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Illinois Tool Works has a twelve month low of $173.52 and a twelve month high of $249.81.

Illinois Tool Works (NYSE:ITWGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.22 by $0.15. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.98 billion. Illinois Tool Works had a return on equity of 72.57% and a net margin of 18.08%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. Research analysts forecast that Illinois Tool Works will post 9.07 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $4.88 annualized dividend and a dividend yield of 2.34%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 57.34%.

Insider Buying and Selling

In related news, EVP Lei Zhang Schlitz sold 1,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $205.34, for a total transaction of $205,340.00. Following the completion of the transaction, the executive vice president now directly owns 7,803 shares in the company, valued at $1,602,268.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ITW. Cornerstone Wealth Management LLC lifted its position in shares of Illinois Tool Works by 5.4% in the first quarter. Cornerstone Wealth Management LLC now owns 1,784 shares of the industrial products company’s stock valued at $374,000 after buying an additional 91 shares during the last quarter. Veriti Management LLC increased its stake in shares of Illinois Tool Works by 4.4% during the first quarter. Veriti Management LLC now owns 3,707 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 156 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Illinois Tool Works during the first quarter worth approximately $1,656,000. Koshinski Asset Management Inc. increased its stake in shares of Illinois Tool Works by 1.2% during the first quarter. Koshinski Asset Management Inc. now owns 4,790 shares of the industrial products company’s stock worth $1,003,000 after purchasing an additional 59 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its stake in shares of Illinois Tool Works by 11.9% during the first quarter. Vestmark Advisory Solutions Inc. now owns 5,516 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 587 shares during the period. 79.03% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

(Get Rating)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

Read More

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

Receive News & Ratings for Illinois Tool Works Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illinois Tool Works and related companies with MarketBeat.com's FREE daily email newsletter.