Illinois Tool Works Inc. (ITW) Receives Average Recommendation of “Hold” from Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been assigned an average recommendation of “Hold” from the twenty analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $174.33.

A number of research firms recently weighed in on ITW. Stifel Nicolaus lowered their target price on shares of Illinois Tool Works from $186.00 to $162.00 and set a “hold” rating on the stock in a research note on Monday. Zacks Investment Research cut shares of Illinois Tool Works from a “hold” rating to a “sell” rating in a research note on Monday. JPMorgan Chase lowered their target price on shares of Illinois Tool Works from $168.00 to $155.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 10th. ValuEngine upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Citigroup lifted their price target on shares of Illinois Tool Works from $192.00 to $202.00 and gave the company a “buy” rating in a report on Thursday, January 25th.

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In other news, insider Sundaram Nagarajan sold 18,650 shares of the company’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 sale, the insider now owns 42,497 shares of the company’s stock, valued at approximately $7,564,466. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Almanack Investment Partners LLC. purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $112,000. Legacy Advisors LLC lifted its position in Illinois Tool Works by 988.9% during the fourth quarter. Legacy Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $114,000 after acquiring an additional 623 shares during the last quarter. Santori & Peters Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $121,000. Jackson Grant Investment Advisers Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $130,000. Finally, Risk Paradigm Group LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at approximately $133,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

Shares of Illinois Tool Works stock traded up $2.02 on Thursday, hitting $158.38. 295,156 shares of the company’s stock were exchanged, compared to its average volume of 1,464,572. The stock has a market capitalization of $52,946.41, a PE ratio of 23.89, a P/E/G ratio of 1.99 and a beta of 1.24. Illinois Tool Works has a 1 year low of $130.58 and a 1 year 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.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.08. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Illinois Tool Works had a net margin of 11.79% and a return on equity of 48.42%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. research analysts anticipate that Illinois Tool Works will post 7.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Shareholders of record on Friday, March 30th were given a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $3.12 annualized dividend and a yield of 1.97%. Illinois Tool Works’s dividend payout ratio (DPR) is 47.34%.

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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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