Illinois Tool Works (NYSE:ITW) Price Target Cut to $227.00 by Analysts at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its target price decreased by Stifel Nicolaus from $259.00 to $227.00 in a research report report published on Monday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial upped their target price on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 target price on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company decreased their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, Citigroup dropped their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $260.09.

Illinois Tool Works Trading Up 0.5 %

Shares of NYSE:ITW opened at $233.44 on Monday. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $279.13. The company’s 50 day moving average is $251.88 and its two-hundred day moving average is $258.72. The company has a market cap of $68.48 billion, a PE ratio of 19.92, a P/E/G ratio of 4.56 and a beta of 1.12. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Equities analysts predict that Illinois Tool Works will post 10.39 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $271.25, for a total transaction of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. O’herlihy sold 48,453 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $274.36, for a total value of $13,293,565.08. Following the completion of the sale, the chief executive officer now directly owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,925 shares of company stock valued at $42,973,845 over the last three months. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pensionfund Sabic grew its stake in shares of Illinois Tool Works by 37.0% during the 4th quarter. Pensionfund Sabic now owns 7,400 shares of the industrial products company’s stock worth $1,876,000 after purchasing an additional 2,000 shares during the period. Franklin Resources Inc. boosted its holdings in Illinois Tool Works by 41.0% during the third quarter. Franklin Resources Inc. now owns 1,370,254 shares of the industrial products company’s stock worth $358,321,000 after buying an additional 398,676 shares in the last quarter. Clark & Stuart Inc acquired a new position in Illinois Tool Works during the fourth quarter worth about $1,729,000. Czech National Bank increased its holdings in Illinois Tool Works by 5.9% in the fourth quarter. Czech National Bank now owns 58,265 shares of the industrial products company’s stock valued at $14,774,000 after buying an additional 3,227 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Illinois Tool Works by 31.6% during the 4th quarter. Ritholtz Wealth Management now owns 15,682 shares of the industrial products company’s stock valued at $3,976,000 after acquiring an additional 3,765 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.