Illinois Tool Works (ITW) Downgraded to Hold at ValuEngine

ValuEngine cut shares of Illinois Tool Works (NYSE:ITW) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets reissued a hold rating and set a $170.00 price target on shares of Illinois Tool Works in a report on Wednesday, April 18th. Zacks Investment Research downgraded shares of Illinois Tool Works from a hold rating to a sell rating in a report on Monday, April 16th. Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $186.00 to $162.00 and set a hold rating on the stock in a report on Monday, April 16th. JPMorgan Chase decreased their price objective on shares of Illinois Tool Works from $168.00 to $155.00 and set a neutral rating on the stock in a report on Tuesday, April 10th. Finally, Goldman Sachs raised shares of Illinois Tool Works from a buy rating to a conviction-buy rating and decreased their price objective for the company from $191.00 to $177.00 in a report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $175.41.

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Shares of NYSE ITW opened at $149.65 on Tuesday. Illinois Tool Works has a 1 year low of $133.90 and a 1 year high of $179.07. The firm has a market cap of $53,486.05, a P/E ratio of 22.71, a PEG ratio of 2.01 and a beta of 1.24. The company has a current ratio of 2.38, a quick ratio of 1.98 and a debt-to-equity ratio of 1.63.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. research analysts anticipate that Illinois Tool Works will post 7.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 10th. Stockholders of record on Friday, March 30th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, March 28th. Illinois Tool Works’s dividend payout ratio (DPR) is 47.34%.

In other news, insider Sundaram Nagarajan sold 18,650 shares of the stock in a transaction dated 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 sale, the insider now directly owns 42,497 shares in the company, valued at $7,564,466. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pioneer Trust Bank N A OR raised its position in shares of Illinois Tool Works by 1.3% in the fourth quarter. Pioneer Trust Bank N A OR now owns 22,955 shares of the industrial products company’s stock valued at $3,830,000 after buying an additional 300 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Illinois Tool Works by 0.7% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,915 shares of the industrial products company’s stock worth $7,786,000 after purchasing an additional 322 shares during the last quarter. Peachtree Investment Advisors Inc. increased its position in Illinois Tool Works by 2.1% during the fourth quarter. Peachtree Investment Advisors Inc. now owns 17,135 shares of the industrial products company’s stock worth $2,859,000 after purchasing an additional 360 shares during the last quarter. Signaturefd LLC increased its position in Illinois Tool Works by 26.5% during the fourth quarter. Signaturefd LLC now owns 1,740 shares of the industrial products company’s stock worth $290,000 after purchasing an additional 364 shares during the last quarter. Finally, Sigma Planning Corp increased its position in Illinois Tool Works by 8.9% during the fourth quarter. Sigma Planning Corp now owns 4,504 shares of the industrial products company’s stock worth $752,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 77.58% of the company’s stock.

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About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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