Shares of Illinois Tool Works Inc. (NYSE:ITW – Get Rating) received a consensus recommendation of “Hold” from the thirteen research firms that cover the company, Marketbeat.com reports. Two investment analysts have assigned the stock a sell rating, seven have issued a hold rating and one has assigned the company a buy rating. The 12-month average price target among analysts who have rated the stock over the past year is $233.50.
Several equity research analysts have recently released ITW stock reports. Barclays lowered its price target on Illinois Tool Works shares from $200.00 to $192.00 in a Wednesday May 4 report. Deutsche Bank Aktiengesellschaft lowered its price target on Illinois Tool Works shares from $236.00 to $226.00 and set a “hold” rating on the stock in a Thursday, April 14 research note . Credit Suisse Group lowered its price target on Illinois Tool Works shares from $267.00 to $261.00 in a Wednesday May 4 research note. StockNews.com began covering Illinois Tool Works stocks in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Finally, Stifel Nicolaus lowered his price target on Illinois Tool Works stock from $242.00 to $202.00 and set a “hold” rating on the stock in a Monday, April 18 research note. .
In other Illinois Tool Works news, Executive Vice President Lei Zhang Schlitz sold 1,000 shares of Illinois Tool Works in a trade on Wednesday, May 11. The shares were sold at an average price of $205.34, for a total value of $205,340.00. Following the sale, the executive vice president now directly owns 7,803 shares of the company, valued at approximately $1,602,268.02. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. 0.78% of the shares are held by insiders of the company.
Several institutional investors have recently bought and sold shares of ITW. American Century Companies Inc. increased its equity stake in Illinois Tool Works by 15.3% in Q3. American Century Companies Inc. now owns 11,188 shares of the industrial products company worth $2,312,000 after buying 1,481 additional shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Illinois Tool Works shares by 0.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 14,965 shares of the industrial products company worth $3,092,000 after purchasing 138 additional shares during the period. The Public Sector Pension Investment Board increased its stake in Illinois Tool Works shares by 7.3% during the third quarter. The Public Sector Pension Investment Board now owns 48,342 shares of the industrial products company worth $9,989,000 after purchasing an additional 3,280 shares during the period. Edmond DE Rothschild Holding SA increased its stake in Illinois Tool Works shares by 11.4% in the third quarter. Edmond DE Rothschild Holding SA now owns 8,675 shares of the industrial products company worth $1,793,000 after purchasing an additional 888 shares during the period. Finally, Achmea Investment Management BV increased its stake in Illinois Tool Works shares by 5.0% during the third quarter. Achmea Investment Management BV now owns 14,347 shares of the industrial products company worth $2,965,000 after purchasing an additional 682 shares during the period. Hedge funds and other institutional investors hold 79.03% of the company’s shares.
ITW shares opened at $201.77 on Friday. Illinois Tool Works has a 12-month low of $195.25 and a 12-month high of $249.81. The company has a quick ratio of 1.24, a current ratio of 1.73 and a debt ratio of 1.90. The company has a 50-day moving average of $206.21 and a 200-day moving average of $223.54. The company has a market capitalization of $62.84 billion, a P/E ratio of 23.71, a price-to-earnings growth ratio of 2.42 and a beta of 1.07.
Illinois Tool Works (NYSE:ITW – Get Rating) last released its results on Tuesday, May 3. The industrial products company reported earnings per share (EPS) of $2.11 for the quarter, beating the consensus estimate of $2.07 by $0.04. Illinois Tool Works had a net margin of 18.08% and a return on equity of 72.57%. The company posted revenue of $3.94 billion for the quarter, versus $3.76 billion expected by analysts. In the same quarter last year, the company posted earnings per share of $2.11. The company’s quarterly revenue increased 11.1% year over year. On average, sell-side analysts expect Illinois Tool Works to post 9.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 14. Shareholders of record on Thursday, June 30 will receive a dividend of $1.22 per share. The ex-dividend date is Wednesday, June 29. This represents an annualized dividend of $4.88 and a dividend yield of 2.42%. Illinois Tool Works payout rate is 57.34%.
Illinois Tool Works Company Profile (Get a 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; building products; and specialty products. The Automotive OEM segment offers plastic and metal components, fasteners and assemblies for automobiles, light trucks and other industrial uses.
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