Illinois Tool Works Inc. (ITW) Hits New 12-Month High at $115.83
Illinois Tool Works Inc. (NYSE:ITW) reached a new 52-week high on Tuesday . The company traded as high as $115.83 and last traded at $115.70, with a volume of 633,404 shares. The stock had previously closed at $114.81.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Illinois Tool Works from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research report on Monday. RBC Capital Markets restated a “sector perform” rating and issued a $104.00 target price (up from $101.00) on shares of Illinois Tool Works in a research report on Sunday. Credit Suisse Group AG set a $114.00 target price on Illinois Tool Works and gave the stock a “hold” rating in a research report on Thursday, July 21st. Royal Bank Of Canada upped their target price on Illinois Tool Works from $101.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 21st. Finally, Deutsche Bank AG increased their price objective on Illinois Tool Works from $119.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $110.07.
The company has a market cap of $41.31 billion and a price-to-earnings ratio of 21.57. The firm has a 50-day moving average price of $107.50 and a 200-day moving average price of $100.39.
Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, July 20th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.40 by $0.06. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts predict that Illinois Tool Works Inc. will post $5.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Thursday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, June 28th.
In related news, EVP Roland M. Martel sold 70,000 shares of Illinois Tool Works stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $104.30, for a total transaction of $7,301,000.00. Following the completion of the sale, the executive vice president now owns 96,996 shares of the company’s stock, valued at approximately $10,116,682.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lei Zhang Schlitz sold 2,500 shares of Illinois Tool Works stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $105.17, for a total transaction of $262,925.00. Following the sale, the executive vice president now directly owns 992 shares of the company’s stock, valued at approximately $104,328.64. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of the stock. Investors Capital Advisory Services increased its stake 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 stake 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. Victory Capital Management Inc. increased its stake 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. Dai Ichi Life Insurance CO. LTD. increased its stake in Illinois Tool Works by 115.7% in the fourth quarter. Dai Ichi Life Insurance CO. LTD. now owns 16,334 shares of the company’s stock worth $1,514,000 after buying an additional 8,761 shares in the last quarter. Finally, Burney Co. increased its stake in Illinois Tool Works by 6.6% in the fourth quarter. Burney Co. now owns 17,762 shares of the company’s stock worth $1,665,000 after buying an additional 1,100 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.