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

Illinois Tool Works Inc. (NYSE:ITW) has been assigned an average recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $161.38.

ITW has been the topic of a number of research analyst reports. Wells Fargo & Co reduced their target price on Illinois Tool Works from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Gordon Haskett lowered Illinois Tool Works from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research note on Friday, May 8th. Citigroup increased their target price on shares of Illinois Tool Works from $145.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Deutsche Bank raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and lifted their price target for the company from $124.00 to $148.00 in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Illinois Tool Works from $160.00 to $156.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th.

In other news, Director Richard H. Lenny acquired 1,575 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $159.19 per share, for a total transaction of $250,724.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ernest Scott Santi bought 6,300 shares of Illinois Tool Works stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $158.42 per share, for a total transaction of $998,046.00. Following the acquisition, the chief executive officer now owns 141,994 shares in the company, valued at $22,494,689.48. The disclosure for this purchase can be found here. Corporate insiders own 0.79% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ITW. Elmwood Wealth Management Inc. bought a new position in Illinois Tool Works in the first quarter worth about $27,000. Golden State Wealth Management LLC purchased a new position in shares of Illinois Tool Works during the 1st quarter valued at $51,000. Veritas Investment Management LLP acquired a new position in Illinois Tool Works in the 1st quarter worth about $51,000. Filbrandt Wealth Management LLC bought a new position in shares of Illinois Tool Works during the 4th quarter valued at $52,000. Finally, Raab & Moskowitz Asset Management LLC bought a new position in Illinois Tool Works during the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Illinois Tool Works stock traded down $3.14 during trading on Friday, reaching $167.82. The company had a trading volume of 2,663,567 shares, compared to its average volume of 1,446,808. Illinois Tool Works has a 12-month low of $115.94 and a 12-month high of $190.85. The company has a debt-to-equity ratio of 3.37, a quick ratio of 2.13 and a current ratio of 2.71. The stock’s 50 day moving average price is $167.78 and its two-hundred day moving average price is $168.20. The firm has a market capitalization of $54.01 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 4.37 and a beta of 1.16.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $1.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.06. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.29 billion. Illinois Tool Works had a net margin of 18.06% and a return on equity of 87.33%. Illinois Tool Works’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business earned $1.81 EPS. As a group, research analysts expect that Illinois Tool Works will post 5.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.55%. Illinois Tool Works’s dividend payout ratio (DPR) is presently 55.23%.

Illinois Tool Works Company Profile

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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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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