Illinois Tool Works Inc. (ITW) Reaches New 12-Month High at $110.12
Illinois Tool Works Inc. (NYSE:ITW)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $110.12 and last traded at $109.96, with a volume of 541,148 shares trading hands. The stock had previously closed at $109.01.
A number of equities analysts have commented on ITW shares. Zacks Investment Research lowered shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Robert W. Baird boosted their price target on shares of Illinois Tool Works from $92.00 to $108.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Morgan Stanley boosted their price target on shares of Illinois Tool Works from $97.00 to $101.00 in a research report on Thursday, April 7th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Illinois Tool Works in a research note on Tuesday, June 7th. Finally, Argus boosted their target price on shares of Illinois Tool Works from $102.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $106.38.
The company’s 50 day moving average is $105.99 and its 200 day moving average is $99.12. The stock has a market capitalization of $39.74 billion and a PE ratio of 21.21.
Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.03. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. Illinois Tool Works’s revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that Illinois Tool Works Inc. will post $5.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Tuesday, June 28th.
In other Illinois Tool Works news, Vice Chairman David C. Parry sold 8,000 shares of Illinois Tool Works stock in a transaction on Monday, April 25th. The shares were sold at an average price of $104.41, for a total transaction of $835,280.00. Following the transaction, the insider now directly owns 628 shares of the company’s stock, valued at approximately $65,569.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sundaram Nagarajan sold 4,560 shares of Illinois Tool Works stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $110.00, for a total transaction of $501,600.00. Following the transaction, the executive vice president now directly owns 24,777 shares in the company, valued at $2,725,470. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of ITW. Carret Asset Management LLC increased its position in Illinois Tool Works by 1.6% in the fourth quarter. Carret Asset Management LLC now owns 12,329 shares of the company’s stock worth $1,143,000 after buying an additional 200 shares in the last quarter. Investors Capital Advisory Services increased its position in Illinois Tool Works by 91.6% in the fourth quarter. Investors Capital Advisory Services now owns 14,014 shares of the company’s stock worth $1,298,000 after buying an additional 6,700 shares in the last quarter. Haverford Trust Co. increased its position in Illinois Tool Works by 18.2% in the fourth quarter. Haverford Trust Co. now owns 14,187 shares of the company’s stock worth $1,315,000 after buying an additional 2,189 shares in the last quarter. Boys Arnold & Co. Inc. increased its position in Illinois Tool Works by 63.3% in the fourth quarter. Boys Arnold & Co. Inc. now owns 15,202 shares of the company’s stock worth $1,409,000 after buying an additional 5,891 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Illinois Tool Works by 42.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,555 shares of the company’s stock worth $1,442,000 after buying an additional 4,671 shares in the last quarter.
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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