Illinois Tool Works (ITW) Lifted to “Conviction-Buy” at Goldman Sachs

Goldman Sachs upgraded shares of Illinois Tool Works (NYSE:ITW) from a buy rating to a conviction-buy rating in a report published on Tuesday, Marketbeat reports. The firm currently has $177.00 price target on the industrial products company’s stock, down from their prior price target of $191.00.

A number of other research analysts also recently issued reports on ITW. Bank of America started coverage on shares of Illinois Tool Works in a research report on Monday, December 11th. They set a buy rating and a $190.00 price objective on the stock. Zacks Investment Research downgraded shares of Illinois Tool Works from a buy rating to a hold rating in a research report on Wednesday, January 3rd. BMO Capital Markets downgraded shares of Illinois Tool Works from an outperform rating to a market perform rating and set a $180.00 price objective on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Illinois Tool Works from $176.00 to $186.00 and gave the company a hold rating in a research report on Tuesday, January 16th. Finally, Seaport Global Securities reissued a buy rating and set a $200.00 price objective on shares of Illinois Tool Works in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Illinois Tool Works currently has a consensus rating of Hold and a consensus price target of $177.71.

NYSE:ITW opened at $155.74 on Tuesday. Illinois Tool Works has a 52 week low of $130.17 and a 52 week high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The firm has a market cap of $52,768.81, a P/E ratio of 23.63, a PEG ratio of 1.98 and a beta of 1.24.



Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. equities research analysts expect that Illinois Tool Works will post 7.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is presently 47.34%.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the sale, the insider now directly owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its position in shares of Illinois Tool Works by 8.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 45,423 shares of the industrial products company’s stock worth $7,579,000 after buying an additional 3,629 shares during the period. Atlantic Trust Group LLC grew its position in shares of Illinois Tool Works by 21.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 243,617 shares of the industrial products company’s stock worth $36,045,000 after buying an additional 43,356 shares during the period. DnB Asset Management AS grew its position in shares of Illinois Tool Works by 21.3% in the 4th quarter. DnB Asset Management AS now owns 51,917 shares of the industrial products company’s stock worth $8,662,000 after buying an additional 9,100 shares during the period. Aevitas Wealth Management Inc. purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth about $358,000. Finally, AXA grew its position in shares of Illinois Tool Works by 3.5% in 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 period. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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