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

Illinois Tool Works Inc. (NYSE:ITW) has earned an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $250.22.

Several equities research analysts recently issued reports on ITW shares. JPMorgan Chase & Co. increased their price objective on Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group reduced their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Evercore ISI lowered their price objective on shares of Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company increased their target price on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Finally, Argus upgraded shares of Illinois Tool Works to a “strong-buy” rating in a report on Wednesday, July 31st.

Illinois Tool Works Stock Up 0.8 %

ITW stock opened at $250.44 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.30 and a quick ratio of 0.94. The firm has a market capitalization of $74.73 billion, a P/E ratio of 24.70, a P/E/G ratio of 3.80 and a beta of 1.10. Illinois Tool Works has a 52-week low of $217.50 and a 52-week high of $271.15. The company’s 50 day simple moving average is $241.98 and its 200-day simple moving average is $249.12.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.09. The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.08 billion. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 EPS. As a group, equities research analysts anticipate that Illinois Tool Works will post 10.25 EPS for the current year.

Illinois Tool Works Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Illinois Tool Works’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 2.40%. Illinois Tool Works’s dividend payout ratio is currently 59.17%.

Insider Buying and Selling at Illinois Tool Works

In related news, Director David Byron Smith, Jr. purchased 775 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $238.82 per share, for a total transaction of $185,085.50. Following the purchase, the director now owns 121,506 shares in the company, valued at approximately $29,018,062.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Illinois Tool Works

A number of institutional investors and hedge funds have recently modified their holdings of ITW. Frazier Financial Advisors LLC bought a new position in Illinois Tool Works in the 4th quarter worth $26,000. Security National Bank bought a new position in shares of Illinois Tool Works in the fourth quarter worth about $28,000. Christopher J. Hasenberg Inc acquired a new position in shares of Illinois Tool Works during the 1st quarter worth about $32,000. Fairscale Capital LLC bought a new stake in Illinois Tool Works during the 2nd quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Illinois Tool Works in the 1st quarter valued at approximately $34,000. 79.77% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.