BMO Capital Markets restated their hold rating on shares of Illinois Tool Works (NYSE:ITW) in a research note issued to investors on Wednesday. BMO Capital Markets currently has a $170.00 price target on the industrial products company’s stock.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Illinois Tool Works from a hold rating to a sell rating in a report on Monday, April 16th. Stifel Nicolaus reduced their target price on Illinois Tool Works from $186.00 to $162.00 and set a hold rating on the stock in a report on Monday, April 16th. JPMorgan Chase reduced their target price on Illinois Tool Works from $168.00 to $155.00 and set a neutral rating on the stock in a report on Tuesday, April 10th. Goldman Sachs upgraded Illinois Tool Works from a buy rating to a conviction-buy rating and dropped their price target for the stock from $191.00 to $177.00 in a research report on Tuesday, April 10th. Finally, ValuEngine upgraded Illinois Tool Works from a hold rating to a buy rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Illinois Tool Works has an average rating of Hold and an average target price of $175.41.
NYSE:ITW opened at $158.29 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.98 and a current ratio of 2.38. Illinois Tool Works has a 52 week low of $133.90 and a 52 week high of $179.07. The company has a market cap of $54,336.50, a price-to-earnings ratio of 24.02, a PEG ratio of 2.04 and a beta of 1.24.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.08. Illinois Tool Works had a return on equity of 48.42% and a net margin of 11.79%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the business posted $1.39 EPS. Illinois Tool Works’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts forecast that Illinois Tool Works will post 7.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.34%.
In other news, insider Sundaram Nagarajan sold 18,650 shares of Illinois Tool Works stock in a transaction on Friday, January 26th. The stock was sold at an average price of $178.00, for a total transaction of $3,319,700.00. Following the transaction, the insider now directly owns 42,497 shares in the company, valued at approximately $7,564,466. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ITW. Almanack Investment Partners LLC. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $112,000. Legacy Advisors LLC boosted its stake in shares of Illinois Tool Works by 988.9% during the 4th quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 623 shares in the last quarter. Santori & Peters Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $121,000. Jackson Grant Investment Advisers Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $130,000. Finally, Risk Paradigm Group LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth $133,000. 77.64% of the stock is owned by institutional investors and hedge funds.
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About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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