ValuEngine Downgrades Illinois Tool Works (ITW) to Sell

ValuEngine downgraded shares of Illinois Tool Works (NYSE:ITW) from a hold rating to a sell rating in a research note published on Monday morning.

ITW has been the topic of several other research reports. Stifel Nicolaus cut their price objective on Illinois Tool Works from $186.00 to $162.00 and set a hold rating on the stock in a research report on Monday, April 16th. Zacks Investment Research cut Illinois Tool Works from a buy rating to a hold rating in a research report on Monday. BMO Capital Markets cut their price objective on Illinois Tool Works from $175.00 to $160.00 and set a market perform rating on the stock in a research report on Friday, May 4th. Wolfe Research assumed coverage on Illinois Tool Works in a research report on Wednesday, June 27th. They issued an underperform rating on the stock. Finally, Goldman Sachs Group raised Illinois Tool Works from a buy rating to a conviction-buy rating and cut their price objective for the stock from $191.00 to $177.00 in a research report on Tuesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $175.40.

Illinois Tool Works opened at $138.61 on Monday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 2.20. Illinois Tool Works has a 1-year low of $135.07 and a 1-year high of $179.07. The firm has a market capitalization of $46.93 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings data on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.04. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. research analysts predict that Illinois Tool Works will post 7.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 29th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, June 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.25%. Illinois Tool Works’s dividend payout ratio is presently 47.34%.

Several hedge funds and other institutional investors have recently modified their holdings of ITW. Dynamic Technology Lab Private Ltd lifted its holdings in Illinois Tool Works by 114.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 8,900 shares of the industrial products company’s stock worth $1,395,000 after purchasing an additional 4,743 shares in the last quarter. Private Vista LLC lifted its holdings in Illinois Tool Works by 615.9% during the 1st quarter. Private Vista LLC now owns 12,980 shares of the industrial products company’s stock worth $2,033,000 after purchasing an additional 11,167 shares in the last quarter. Chesapeake Wealth Management purchased a new stake in Illinois Tool Works during the 1st quarter worth about $257,000. 180 Wealth Advisors LLC purchased a new stake in Illinois Tool Works during the 1st quarter worth about $936,000. Finally, Suntrust Banks Inc. lifted its holdings in Illinois Tool Works by 7.7% during the 1st quarter. Suntrust Banks Inc. now owns 50,252 shares of the industrial products company’s stock worth $7,871,000 after purchasing an additional 3,605 shares in the last quarter. 77.02% 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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