BidaskClub downgraded shares of Illinois Tool Works Inc. (NYSE:ITW) from a hold rating to a sell rating in a research report report published on Thursday.

Several other analysts have also weighed in on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a sell rating to a buy rating and lifted their target price for the company from $131.00 to $155.00 in a research report on Thursday, June 1st. Credit Suisse Group set a $135.00 target price on shares of Illinois Tool Works and gave the company a hold rating in a research report on Wednesday, April 12th. Morgan Stanley reiterated an equal weight rating and set a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Deutsche Bank AG reiterated a buy rating and set a $160.00 target price (up from $140.00) on shares of Illinois Tool Works in a research report on Saturday, April 29th. Finally, Barclays PLC lifted their target price on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an equal weight rating in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Illinois Tool Works presently has a consensus rating of Hold and an average target price of $152.67.

Shares of Illinois Tool Works (NYSE:ITW) traded up 1.03% during trading on Thursday, reaching $142.88. 1,223,323 shares of the company’s stock were exchanged. Illinois Tool Works has a 52-week low of $111.50 and a 52-week high of $150.29. The company has a 50 day moving average price of $144.97 and a 200-day moving average price of $136.73. The company has a market capitalization of $49.25 billion, a PE ratio of 23.12 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the business earned $1.46 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works will post $6.45 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be paid a $0.78 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.18%. Illinois Tool Works’s payout ratio is currently 42.07%.

In other Illinois Tool Works news, CFO Michael M. Larsen sold 52,447 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $140.62, for a total value of $7,375,097.14. Following the completion of the transaction, the chief financial officer now directly owns 67,383 shares of the company’s stock, valued at $9,475,397.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ernest Scott Santi sold 101,297 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $138.03, for a total transaction of $13,982,024.91. Following the completion of the transaction, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at $26,383,330.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,961 shares of company stock valued at $28,311,650. Insiders own 0.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Gulf International Bank UK Ltd increased its position in shares of Illinois Tool Works by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 101,193 shares of the industrial products company’s stock worth $13,405,000 after buying an additional 1,300 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Illinois Tool Works by 2.7% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 40,441 shares of the industrial products company’s stock worth $5,357,000 after buying an additional 1,074 shares in the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of Illinois Tool Works by 4.5% in the first quarter. Stock Yards Bank & Trust Co. now owns 14,022 shares of the industrial products company’s stock worth $1,857,000 after buying an additional 598 shares in the last quarter. Douglass Winthrop Advisors LLC bought a new position in shares of Illinois Tool Works during the first quarter worth $213,000. Finally, Creative Planning increased its position in shares of Illinois Tool Works by 7.9% in the first quarter. Creative Planning now owns 74,435 shares of the industrial products company’s stock worth $9,860,000 after buying an additional 5,428 shares in the last quarter. 75.32% of the stock is owned by institutional investors.

Illinois Tool Works Company Profile

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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