Illinois Tool Works Inc. (NYSE:ITW) Receives Average Recommendation of “Reduce” from Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average rating of “Reduce” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $257.00.

Several research analysts recently weighed in on ITW shares. Wells Fargo & Company lowered Illinois Tool Works from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $277.00 to $240.00 in a research report on Tuesday, February 6th. Barclays upped their price target on Illinois Tool Works from $224.00 to $230.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th. Truist Financial began coverage on Illinois Tool Works in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday.

Insider Transactions at Illinois Tool Works

In other news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Sharon Szafranski sold 801 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the completion of the sale, the executive vice president now owns 5,870 shares in the company, valued at approximately $1,505,185.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ernest Scott Santi sold 50,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the sale, the chairman now owns 221,015 shares of the company’s stock, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,471 shares of company stock worth $48,712,316. 0.88% of the stock is owned by corporate insiders.

Institutional Trading of Illinois Tool Works

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Illinois Tool Works by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,205,082 shares of the industrial products company’s stock valued at $6,035,292,000 after purchasing an additional 1,238,239 shares during the period. Northern Trust Corp boosted its stake in Illinois Tool Works by 1.9% during the 3rd quarter. Northern Trust Corp now owns 12,829,189 shares of the industrial products company’s stock valued at $2,954,691,000 after purchasing an additional 244,145 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Illinois Tool Works by 106,553.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,185,211 shares of the industrial products company’s stock valued at $1,582,902,000 after purchasing an additional 7,178,474 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Illinois Tool Works by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,899,522 shares of the industrial products company’s stock valued at $1,578,299,000 after purchasing an additional 97,568 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Illinois Tool Works by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 5,611,731 shares of the industrial products company’s stock valued at $1,363,875,000 after purchasing an additional 607,321 shares during the period. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.7 %

NYSE:ITW opened at $250.46 on Friday. The firm has a market capitalization of $74.82 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.67 and a beta of 1.13. Illinois Tool Works has a 1-year low of $217.06 and a 1-year high of $271.15. The company has a current ratio of 1.33, a quick ratio of 0.97 and a debt-to-equity ratio of 2.10. The business’s fifty day moving average price is $260.53 and its 200 day moving average price is $250.79.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. Illinois Tool Works’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 earnings per share. On average, sell-side analysts forecast that Illinois Tool Works will post 10.12 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 57.49%.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.