Analysts Set Illinois Tool Works Inc. (ITW) PT at $175.93

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been assigned an average recommendation of “Hold” from the twenty ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $173.33.

A number of research firms recently commented on ITW. BMO Capital Markets reiterated a “hold” rating and set a $170.00 price objective on shares of Illinois Tool Works in a research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating for the company in a report on Monday. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase reduced their target price on shares of Illinois Tool Works from $168.00 to $155.00 and set a “neutral” rating for the company in a report on Tuesday, April 10th. Finally, ValuEngine upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.

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In related news, insider Sundaram Nagarajan sold 18,650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $178.00, for a total value of $3,319,700.00. Following the completion of the transaction, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ITW. Almanack Investment Partners LLC. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $112,000. Legacy Advisors LLC lifted its position in Illinois Tool Works by 988.9% in the 4th quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock worth $114,000 after buying an additional 623 shares in the last quarter. Santori & Peters Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $121,000. Valeo Financial Advisors LLC purchased a new stake in Illinois Tool Works in the 3rd quarter worth approximately $130,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth approximately $130,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ITW traded down $0.31 during mid-day trading on Thursday, reaching $159.09. 976,363 shares of the company traded hands, compared to its average volume of 1,452,131. Illinois Tool Works has a fifty-two week low of $132.52 and a fifty-two week high of $179.07. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.38 and a quick ratio of 1.98. The firm has a market capitalization of $53,953.97, a PE ratio of 24.14, a P/E/G ratio of 2.03 and a beta of 1.24.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Wednesday, January 24th. The industrial products company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.08. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business earned $1.39 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts anticipate that Illinois Tool Works will post 7.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Friday, March 30th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio is 47.34%.

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Illinois Tool Works Company Profile

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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