Illinois Tool Works (ITW) Rating Lowered to Underweight at JPMorgan Chase & Co.

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JPMorgan Chase & Co. lowered shares of Illinois Tool Works (NYSE:ITW) from a neutral rating to an underweight rating in a research report report published on Thursday morning, Marketbeat Ratings reports. They currently have $120.00 price objective on the industrial products company’s stock.

A number of other equities research analysts have also issued reports on ITW. Wells Fargo & Co set a $145.00 price target on shares of Illinois Tool Works and gave the company a buy rating in a report on Thursday, October 25th. ValuEngine upgraded shares of Illinois Tool Works from a sell rating to a hold rating in a report on Tuesday, November 13th. Deutsche Bank set a $133.00 price target on shares of Illinois Tool Works and gave the company a hold rating in a report on Monday, December 10th. Credit Suisse Group restated a hold rating and set a $131.00 price target on shares of Illinois Tool Works in a report on Friday, December 7th. Finally, Robert W. Baird set a $130.00 price target on shares of Illinois Tool Works and gave the company a hold rating in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Illinois Tool Works currently has a consensus rating of Hold and a consensus price target of $143.94.

NYSE ITW opened at $130.31 on Thursday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.26 and a current ratio of 1.62. Illinois Tool Works has a 12 month low of $117.75 and a 12 month high of $179.07. The company has a market capitalization of $43.13 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 24th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.02. Illinois Tool Works had a net margin of 12.69% and a return on equity of 63.11%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $1.71 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts expect that Illinois Tool Works will post 7.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Monday, December 31st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, December 28th. Illinois Tool Works’s payout ratio is presently 60.70%.

In related news, CEO Ernest Scott Santi sold 108,885 shares of the business’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $133.19, for a total transaction of $14,502,393.15. Following the transaction, the chief executive officer now directly owns 149,777 shares of the company’s stock, valued at $19,948,798.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael M. Larsen sold 58,736 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $132.91, for a total transaction of $7,806,601.76. The disclosure for this sale can be found here. Insiders own 0.82% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Moody National Bank Trust Division grew its position in Illinois Tool Works by 100.0% during the fourth quarter. Moody National Bank Trust Division now owns 420 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 210 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Illinois Tool Works by 540.9% in the third quarter. SRS Capital Advisors Inc. now owns 737 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 622 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Illinois Tool Works by 220.1% in the third quarter. Capital Advisors Ltd. LLC now owns 797 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 548 shares in the last quarter. Valley National Advisers Inc. grew its position in Illinois Tool Works by 180.4% in the third quarter. Valley National Advisers Inc. now owns 875 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 563 shares in the last quarter. Finally, Camarda Financial Advisors LLC bought a new stake in Illinois Tool Works in the third quarter worth approximately $141,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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