Illinois Tool Works Inc. (ITW) Receives $153.87 Consensus PT from Brokerages
Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average rating of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $153.87.
Several equities research analysts have weighed in on ITW shares. Zacks Investment Research raised Illinois Tool Works from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Wednesday, July 12th. Credit Suisse Group set a $141.00 price target on Illinois Tool Works and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. reaffirmed a “buy” rating and set a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a research report on Monday, October 9th. Wells Fargo & Company set a $170.00 price target on Illinois Tool Works and gave the stock a “buy” rating in a research report on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Illinois Tool Works from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th.
In related news, insider John R. Hartnett sold 6,533 shares of Illinois Tool Works stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $150.00, for a total value of $979,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Omnia Family Wealth LLC boosted its holdings in Illinois Tool Works by 0.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock worth $107,000 after buying an additional 2 shares during the last quarter. Harding Loevner LP acquired a new stake in Illinois Tool Works in the 2nd quarter worth about $115,000. WFG Advisors LP boosted its holdings in Illinois Tool Works by 24.7% in the 2nd quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock worth $116,000 after buying an additional 161 shares during the last quarter. TrimTabs Asset Management LLC boosted its holdings in Illinois Tool Works by 88.3% in the 1st quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Illinois Tool Works by 1.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock worth $129,000 after buying an additional 17 shares during the last quarter. Institutional investors own 74.76% of the company’s stock.
Illinois Tool Works (ITW) traded up 1.01% during mid-day trading on Thursday, reaching $155.03. The company’s stock had a trading volume of 1,477,840 shares. The stock has a 50-day moving average price of $147.56 and a 200-day moving average price of $142.11. Illinois Tool Works has a one year low of $111.50 and a one year high of $155.12. The company has a market capitalization of $53.35 billion, a price-to-earnings ratio of 25.09 and a beta of 1.12.
Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Equities research analysts forecast that Illinois Tool Works will post $6.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 29th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.01%. This is a boost from Illinois Tool Works’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 50.49%.
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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.
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