BMO Capital Markets Raises Illinois Tool Works (ITW) Price Target to $180.00
Illinois Tool Works (NYSE:ITW) had its price objective hoisted by BMO Capital Markets to $180.00 in a research report report published on Wednesday, The Fly reports. They currently have an outperform rating on the industrial products company’s stock.
Several other analysts also recently issued reports on the company. Royal Bank Of Canada restated a sector perform rating and issued a $155.00 price target (up from $143.00) on shares of Illinois Tool Works in a research note on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research downgraded Illinois Tool Works from a buy rating to a hold rating in a research note on Monday, October 30th. Argus restated a buy rating and issued a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a research note on Tuesday, October 24th. J P Morgan Chase & Co upgraded Illinois Tool Works from an underweight rating to a neutral rating and boosted their price target for the company from $132.00 to $140.00 in a research note on Tuesday, October 10th. Finally, Citigroup restated a buy rating and issued a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $162.67.
Illinois Tool Works (NYSE ITW) opened at $166.49 on Wednesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.98 and a current ratio of 2.41. The firm has a market capitalization of $57,039.31, a P/E ratio of 26.43, a P/E/G ratio of 2.49 and a beta of 1.18. Illinois Tool Works has a 1-year low of $120.06 and a 1-year high of $169.69.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. Illinois Tool Works had a return on equity of 47.21% and a net margin of 16.12%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS. analysts anticipate that Illinois Tool Works will post 6.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.87%. Illinois Tool Works’s payout ratio is 47.78%.
In other news, insider Roland M. Martel sold 64,818 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $167.41, for a total transaction of $10,851,181.38. Following the completion of the sale, the insider now directly owns 26,222 shares in the company, valued at approximately $4,389,825.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Juan Valls sold 48,622 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $156.73, for a total value of $7,620,526.06. Following the sale, the executive vice president now owns 71,101 shares of the company’s stock, valued at $11,143,659.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,324 shares of company stock valued at $30,653,014. Corporate insiders own 0.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. AXA lifted its position in shares of Illinois Tool Works by 3.5% during the 3rd quarter. AXA now owns 300,701 shares of the industrial products company’s stock worth $44,492,000 after buying an additional 10,108 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $2,001,000. Belpointe Asset Management LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $514,000. IFM Investors Pty Ltd bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth $1,298,000. Finally, Independent Advisor Alliance lifted its position in shares of Illinois Tool Works by 53.0% during the 3rd quarter. Independent Advisor Alliance now owns 6,096 shares of the industrial products company’s stock worth $925,000 after buying an additional 2,112 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.
About Illinois Tool Works
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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