Illinois Tool Works Inc. (NYSE:ITW) Receives $254.00 Average PT from Brokerages

Illinois Tool Works Inc. (NYSE:ITW) has earned a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $252.44.

Several equities analysts recently commented on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays reduced their price target on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Truist Financial reduced their price target on Illinois Tool Works from $305.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Citigroup lifted their price objective on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price objective on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th.

Illinois Tool Works Stock Up 0.8 %

ITW opened at $235.91 on Thursday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $70.40 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.10. The business has a 50-day moving average of $241.38 and a two-hundred day moving average of $252.52. Illinois Tool Works has a 12 month low of $217.50 and a 12 month high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.09. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, research analysts expect that Illinois Tool Works will post 10.19 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.37%. Illinois Tool Works’s dividend payout ratio (DPR) is 55.23%.

Insider Buying and Selling

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of Illinois Tool Works stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the transaction, the director now owns 121,506 shares of the company’s stock, valued at approximately $29,018,062.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.26% of the stock is owned by company insiders.

Institutional Trading of Illinois Tool Works

Several institutional investors have recently modified their holdings of the company. Cornerstone Wealth Management LLC lifted its holdings in shares of Illinois Tool Works by 2.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 1,507 shares of the industrial products company’s stock valued at $395,000 after buying an additional 41 shares during the period. Summit Financial LLC lifted its holdings in shares of Illinois Tool Works by 1.6% during the fourth quarter. Summit Financial LLC now owns 2,601 shares of the industrial products company’s stock valued at $685,000 after purchasing an additional 41 shares during the last quarter. Hanson & Doremus Investment Management lifted its holdings in shares of Illinois Tool Works by 4.6% during the first quarter. Hanson & Doremus Investment Management now owns 958 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 42 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Illinois Tool Works by 1.0% during the first quarter. EP Wealth Advisors LLC now owns 4,390 shares of the industrial products company’s stock valued at $1,178,000 after purchasing an additional 42 shares during the last quarter. Finally, Catalyst Financial Partners LLC lifted its holdings in shares of Illinois Tool Works by 2.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,767 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

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.