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

Illinois Tool Works Inc. (NYSE:ITW) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $253.42.

A number of equities analysts have recently issued reports on ITW shares. UBS Group cut their target price on Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Barclays cut their price target on shares of Illinois Tool Works from $240.00 to $237.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI lowered their price target on Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a report on Monday, May 19th.

Illinois Tool Works Stock Performance

Shares of Illinois Tool Works stock opened at $241.13 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.60 and a debt-to-equity ratio of 2.25. Illinois Tool Works has a 52 week low of $214.66 and a 52 week high of $279.13. The firm’s 50 day moving average is $241.89 and its two-hundred day moving average is $251.59. The firm has a market capitalization of $70.65 billion, a P/E ratio of 21.21, a P/E/G ratio of 5.19 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Illinois Tool Works had a return on equity of 92.77% and a net margin of 21.37%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. Research analysts forecast that Illinois Tool Works will post 10.39 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued a $1.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.00 annualized dividend and a yield of 2.49%. Illinois Tool Works’s dividend payout ratio is currently 52.77%.

Insider Transactions at Illinois Tool Works

In other news, Director David Byron Smith, Jr. acquired 872 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were bought at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the purchase, the director now directly owns 122,884 shares of the company’s stock, valued at approximately $29,634,705.44. This trade represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

Large investors have recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new position in shares of Illinois Tool Works in the fourth quarter worth about $25,000. Redwood Park Advisors LLC acquired a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works during the 4th quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Illinois Tool Works during the first quarter worth approximately $26,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after buying an additional 84 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

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.