Illinois Tool Works Inc. (NYSE:ITW) has been given an average recommendation of “Buy” by the sixteen analysts that are covering the firm. Eight investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $108.71.
Several analysts recently issued reports on the company. Zacks Investment Research raised Illinois Tool Works from a “sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird cut Illinois Tool Works from an “outperform” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research note on Thursday, June 23rd. Deutsche Bank AG raised their target price on Illinois Tool Works from $119.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, July 15th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $104.00 target price (up from $101.00) on shares of Illinois Tool Works in a research note on Sunday, July 24th.
In related news, CEO Ernest Scott Santi sold 74,077 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $114.24, for a total value of $8,462,556.48. Following the completion of the transaction, the chief executive officer now directly owns 75,926 shares in the company, valued at approximately $8,673,786.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Randall J. Scheuneman sold 15,641 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $114.21, for a total transaction of $1,786,358.61. Following the completion of the transaction, the vice president now owns 19,791 shares of the company’s stock, valued at $2,260,330.11. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. purchased a new position in shares of Illinois Tool Works during the first quarter worth $873,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in Illinois Tool Works by 23.2% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,097 shares of the company’s stock worth $522,000 after buying an additional 960 shares during the period. Canada Pension Plan Investment Board increased its stake in Illinois Tool Works by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,013 shares of the company’s stock worth $821,000 after buying an additional 87 shares during the period. BB&T Securities LLC increased its stake in Illinois Tool Works by 4.6% in the first quarter. BB&T Securities LLC now owns 78,426 shares of the company’s stock worth $8,033,000 after buying an additional 3,428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Illinois Tool Works during the first quarter worth approximately $922,000. Institutional investors own 74.89% of the company’s stock.
Shares of Illinois Tool Works (NYSE:ITW) traded up 0.36% during mid-day trading on Wednesday, reaching $115.49. The company’s stock had a trading volume of 1,061,653 shares. The company has a market cap of $40.99 billion, a P/E ratio of 21.51 and a beta of 1.11. Illinois Tool Works has a 12 month low of $79.15 and a 12 month high of $123.50. The company has a 50-day moving average of $118.03 and a 200-day moving average of $111.03.
Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, July 20th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.06. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Illinois Tool Works had a return on equity of 38.15% and a net margin of 14.65%. Illinois Tool Works’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. Equities research analysts forecast that Illinois Tool Works will post $5.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Friday, September 30th were issued a $0.65 dividend. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.55. This represents a $2.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Wednesday, September 28th. Illinois Tool Works’s payout ratio is presently 48.42%.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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