Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $153.87.
ITW has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $140.00 price objective (up from $136.00) on shares of Illinois Tool Works in a report on Monday, July 10th. BidaskClub cut Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets reissued a “buy” rating and set a $160.00 price objective on shares of Illinois Tool Works in a report on Thursday, July 20th. Zacks Investment Research cut Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada lifted their price objective on Illinois Tool Works from $141.00 to $143.00 and gave the company a “sector perform” rating in a report on Tuesday, July 25th.
In related news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Omnia Family Wealth LLC increased its position in Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 2 shares during the period. Harding Loevner LP acquired a new stake in Illinois Tool Works in the second quarter worth about $115,000. WFG Advisors LP increased its position in Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 161 shares during the period. TrimTabs Asset Management LLC increased its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 416 shares during the period. Finally, Salem Investment Counselors Inc. increased its position in Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 74.76% of the company’s stock.
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Illinois Tool Works (NYSE:ITW) traded down 0.18% during trading on Thursday, hitting $153.48. 876,175 shares of the stock traded hands. The company has a 50-day moving average price of $146.58 and a 200 day moving average price of $141.86. Illinois Tool Works has a one year low of $111.50 and a one year high of $154.39. The stock has a market cap of $52.82 billion, a PE ratio of 24.83 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $1.46 earnings per share. Analysts expect that Illinois Tool Works will post $6.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date was Thursday, September 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 50.49%.
About Illinois Tool Works
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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