Illinois Tool Works (NYSE:ITW) Price Target Raised to $259.00 at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its price target increased by Stifel Nicolaus from $258.00 to $259.00 in a research report report published on Wednesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on ITW. Truist Financial began coverage on shares of Illinois Tool Works in a report on Thursday, March 14th. They issued a buy rating and a $301.00 target price on the stock. Barclays raised their target price on shares of Illinois Tool Works from $224.00 to $230.00 and gave the company an underweight rating in a report on Tuesday, April 2nd. Bank of America cut shares of Illinois Tool Works from a neutral rating to an underperform rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Wednesday, January 10th. Citigroup raised their price objective on shares of Illinois Tool Works from $258.00 to $269.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Wells Fargo & Company cut shares of Illinois Tool Works from an equal weight rating to an underweight rating and cut their price objective for the stock from $277.00 to $240.00 in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $257.00.

Illinois Tool Works Trading Down 0.7 %

NYSE ITW opened at $249.54 on Wednesday. The firm has a 50 day simple moving average of $260.75 and a 200-day simple moving average of $250.66. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.97 and a current ratio of 1.33. Illinois Tool Works has a one year low of $217.06 and a one year high of $271.15. The firm has a market cap of $74.55 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.69 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.41 by $0.01. Illinois Tool Works had a net margin of 18.36% and a return on equity of 96.60%. The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Illinois Tool Works will post 10.12 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a $1.40 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a yield of 2.24%. Illinois Tool Works’s dividend payout ratio (DPR) is 57.49%.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now directly owns 5,870 shares in the company, valued at approximately $1,505,185.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total transaction of $12,722,000.00. Following the sale, the chairman now directly owns 221,015 shares in the company, valued at approximately $56,235,056.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sharon Szafranski sold 801 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $256.42, for a total transaction of $205,392.42. Following the sale, the executive vice president now owns 5,870 shares in the company, valued at $1,505,185.40. The disclosure for this sale can be found here. Insiders have sold a total of 189,471 shares of company stock worth $48,712,316 in the last three months. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors have recently made changes to their positions in ITW. Aspect Partners LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $26,000. Frazier Financial Advisors LLC acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $26,000. Security National Bank acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the 4th quarter worth $28,000. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.