Illinois Tool Works Inc. (ITW) Receives $164.80 Consensus PT from Analysts

Illinois Tool Works Inc. (NYSE:ITW) has earned an average rating of “Hold” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $166.13.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research report on Thursday. BMO Capital Markets increased their price target on shares of Illinois Tool Works from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, October 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $147.00 price target (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, October 2nd. Stifel Nicolaus lowered their price target on shares of Illinois Tool Works from $162.00 to $158.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Finally, Citigroup restated a “buy” rating and set a $162.00 target price on shares of Illinois Tool Works in a research report on Tuesday, September 26th.

Illinois Tool Works (ITW) traded down $0.12 during mid-day trading on Tuesday, hitting $166.03. 1,442,498 shares of the stock traded hands, compared to its average volume of 1,415,750. The firm has a market capitalization of $56,780.00, a price-to-earnings ratio of 25.46, a PEG ratio of 2.28 and a beta of 1.18. Illinois Tool Works has a twelve month low of $120.06 and a twelve month high of $169.69. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 1.48.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 earnings per share. sell-side analysts expect that Illinois Tool Works will post 6.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors 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 dividend on an annualized basis and a yield of 1.88%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 47.85%.

In related news, insider John R. Hartnett sold 6,533 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $155.00, for a total transaction of $1,012,615.00. Following the sale, the insider now owns 18,622 shares in the company, valued at $2,886,410. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Harold B. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $166.43, for a total transaction of $4,992,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,791 shares of company stock worth $34,665,964. 0.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Omnia Family Wealth LLC boosted its holdings in shares of Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the last quarter. Harding Loevner LP acquired a new position in shares of Illinois Tool Works in the 2nd quarter valued at $115,000. WFG Advisors LP boosted its holdings in shares of Illinois Tool Works by 24.7% in the 2nd 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 last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Illinois Tool Works in the 3rd quarter valued at $130,000. Finally, Salem Investment Counselors Inc. boosted its holdings in shares of Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

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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.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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