Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Rating of “Hold” by Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) has earned a consensus rating of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts who have updated their coverage on the stock in the last year is $202.00.

Several brokerages have recently commented on ITW. Morgan Stanley boosted their price objective on Illinois Tool Works from $182.00 to $191.00 and gave the company an “underweight” rating in a research report on Wednesday, August 3rd. Stifel Nicolaus decreased their target price on Illinois Tool Works from $206.00 to $163.00 in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft downgraded Illinois Tool Works from a “hold” rating to a “sell” rating and set a $188.00 target price on the stock. in a research report on Monday, August 15th. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on Illinois Tool Works from $225.00 to $229.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Finally, Barclays decreased their target price on Illinois Tool Works from $180.00 to $167.00 and set an “underweight” rating on the stock in a research report on Friday, July 8th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Capital Advisory Group Advisory Services LLC bought a new position in shares of Illinois Tool Works during the first quarter valued at approximately $31,000. Lansing Street Advisors bought a new position in Illinois Tool Works in the first quarter worth approximately $34,000. DeDora Capital Inc. bought a new position in Illinois Tool Works in the first quarter worth approximately $35,000. Intelligent Financial Strategies bought a new position in Illinois Tool Works in the fourth quarter worth approximately $37,000. Finally, Active Wealth Management grew its stake in Illinois Tool Works by 468.8% in the first quarter. Active Wealth Management now owns 182 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 79.68% of the company’s stock.

Illinois Tool Works Price Performance

NYSE ITW opened at $188.89 on Friday. The business’s fifty day moving average is $201.49 and its 200 day moving average is $200.51. Illinois Tool Works has a fifty-two week low of $173.52 and a fifty-two week high of $249.81. The company has a market capitalization of $58.48 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.02 and a current ratio of 1.48.

Illinois Tool Works (NYSE:ITW – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.21 by $0.16. Illinois Tool Works had a return on equity of 75.41% and a net margin of 17.44%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Illinois Tool Works will post 9.08 earnings per share for the current year.

Illinois Tool Works Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $1.31 per share. This is a boost from Illinois Tool Works’ previous quarterly dividend of $1.22. The ex-dividend date is Thursday, September 29th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.77%. Illinois Tool Works’s dividend payout ratio is currently 57.89%.

About Illinois Tool Works

(Get Rating)

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and specialty products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

See Also

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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