Argus reissued their buy rating on shares of Illinois Tool Works Inc. (NYSE:ITW) in a report published on Tuesday, October 24th. Argus currently has a $180.00 target price on the industrial products company’s stock, up from their prior target price of $160.00.
Several other brokerages have also recently issued reports on ITW. Morgan Stanley reiterated an equal weight rating and set a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. BidaskClub lowered Illinois Tool Works from a buy rating to a hold rating in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $155.00 target price (up previously from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research upgraded Illinois Tool Works from a hold rating to a buy rating and set a $163.00 price target for the company in a report on Wednesday, July 12th. Finally, Citigroup Inc. reiterated a buy rating and issued a $162.00 price target on shares of Illinois Tool Works in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $157.27.
Shares of Illinois Tool Works (NYSE ITW) opened at $157.14 on Tuesday. The stock has a market capitalization of $53,836.01, a P/E ratio of 24.94, a P/E/G ratio of 2.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. Illinois Tool Works has a 12 month low of $120.06 and a 12 month high of $159.36.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. Illinois Tool Works’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.50 earnings per share. equities analysts forecast that Illinois Tool Works will post 6.7 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 annualized dividend and a dividend yield of 1.99%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.78%.
In related news, VP Norman D. Jr. Finch purchased 4,986 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were purchased at an average cost of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the transaction, the vice president now directly owns 4,371 shares in the company, valued at approximately $683,362.14. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John R. Hartnett sold 6,533 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $150.00, for a total transaction of $979,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,506 shares of company stock worth $19,801,832. 0.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Omnia Family Wealth LLC boosted its stake 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 buying an additional 2 shares in the last quarter. Private Vista LLC boosted its stake in shares of Illinois Tool Works by 13,697.3% during the second quarter. Private Vista LLC now owns 279,534 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 277,508 shares during the period. Harding Loevner LP purchased a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $115,000. WFG Advisors LP boosted its stake in shares of Illinois Tool Works by 24.7% during the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Finally, TrimTabs Asset Management LLC boosted its stake in shares of Illinois Tool Works by 88.3% during the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 416 shares during the period. 75.01% of the stock is owned by institutional investors and hedge funds.
Illinois Tool Works Company Profile
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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