Brokerages Set Illinois Tool Works Inc. (ITW) Target Price at $163.00

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been given an average rating of “Hold” by the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $164.80.

Several research analysts recently weighed in on ITW shares. Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price target (up from $143.00) on shares of Illinois Tool Works in a report on Friday, October 20th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Argus restated a “buy” rating and set a $180.00 price target (up from $160.00) on shares of Illinois Tool Works in a report on Tuesday, October 24th. J P Morgan Chase & Co upgraded shares of Illinois Tool Works from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $132.00 to $140.00 in a report on Tuesday, October 10th. Finally, Citigroup restated a “buy” rating and set a $171.00 price target (up from $162.00) on shares of Illinois Tool Works in a report on Monday, October 9th.

In other Illinois Tool Works news, insider Roland M. Martel sold 64,818 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $167.41, for a total value of $10,851,181.38. Following the transaction, the insider now directly owns 26,222 shares in the company, valued at $4,389,825.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Norman D. Jr. Finch bought 4,986 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was bought at an average price of $156.34 per share, for a total transaction of $779,511.24. Following the completion of the purchase, the vice president now owns 4,371 shares of the company’s stock, valued at $683,362.14. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 191,324 shares of company stock worth $30,653,014. Corporate insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Omnia Family Wealth LLC raised its position in shares of Illinois Tool Works by 0.3% in the second quarter. Omnia Family Wealth LLC now owns 747 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 2 shares during the period. Harding Loevner LP bought a new stake in shares of Illinois Tool Works in the second quarter valued at approximately $115,000. WFG Advisors LP raised its position in shares of Illinois Tool Works by 24.7% in the second quarter. WFG Advisors LP now owns 812 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 161 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Illinois Tool Works in the third quarter valued at approximately $130,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Illinois Tool Works by 1.9% in the second quarter. Salem Investment Counselors Inc. now owns 900 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. 74.83% of the stock is currently owned by institutional investors.

Illinois Tool Works (NYSE ITW) traded down $1.46 during trading on Friday, reaching $165.03. 1,844,572 shares of the company traded hands, compared to its average volume of 1,208,156. Illinois Tool Works has a 1-year low of $120.06 and a 1-year high of $169.69. The stock has a market capitalization of $57,039.31, a PE ratio of 26.43, a PEG ratio of 2.49 and a beta of 1.18. The company has a current ratio of 2.41, a quick ratio of 1.98 and a debt-to-equity ratio of 1.48.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings results on Monday, October 23rd. The industrial products company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.20. Illinois Tool Works had a net margin of 16.12% and a return on equity of 47.21%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities analysts predict that Illinois Tool Works will post 6.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 29th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, December 28th. Illinois Tool Works’s payout ratio is 47.78%.

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About Illinois Tool Works

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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