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.
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%.
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.
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