Illinois Tool Works Inc. (NYSE:ITW) Receives Consensus Recommendation of “Hold” from Analysts

Illinois Tool Works Inc. (NYSE:ITW) has been assigned an average rating of “Hold” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $250.22.

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial dropped their price objective on shares of Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI dropped their price target on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Stifel Nicolaus reduced their price target on Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the 4th quarter valued at about $26,000. Security National Bank bought a new stake in Illinois Tool Works in the fourth quarter valued at approximately $28,000. Financial Connections Group Inc. bought a new stake in Illinois Tool Works in the second quarter valued at approximately $30,000. Fairscale Capital LLC bought a new position in Illinois Tool Works during the 2nd quarter worth approximately $30,000. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of Illinois Tool Works in the 1st quarter worth approximately $32,000. Institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Stock Up 0.9 %

ITW stock opened at $256.72 on Tuesday. Illinois Tool Works has a 1-year low of $217.50 and a 1-year high of $271.15. The business’s 50 day simple moving average is $246.44 and its 200 day simple moving average is $248.10. The company has a current ratio of 1.30, a quick ratio of 0.92 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $76.61 billion, a PE ratio of 25.32, a PEG ratio of 3.93 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.09. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.41 earnings per share. As a group, research analysts anticipate that Illinois Tool Works will post 10.18 EPS for the current year.

Illinois Tool Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.50 per share. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, September 30th. Illinois Tool Works’s payout ratio is 59.17%.

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.