Illinois Tool Works (NYSE:ITW) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Illinois Tool Works (NYSE:ITW) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Other analysts have also issued research reports about the company. Citigroup dropped their price target on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday. Stifel Nicolaus raised their price target on Illinois Tool Works from $262.00 to $268.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on Illinois Tool Works from $260.00 to $250.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Barclays dropped their price target on Illinois Tool Works from $270.00 to $265.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $270.11.

Illinois Tool Works Stock Up 1.2 %

Shares of Illinois Tool Works stock opened at $252.77 on Tuesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works has a 52-week low of $232.77 and a 52-week high of $279.13. The stock has a market capitalization of $74.64 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 4.22 and a beta of 1.11. The company’s 50 day moving average price is $265.34 and its 200-day moving average price is $255.30.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business earned $2.55 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Illinois Tool Works will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Hedge Funds Weigh In On Illinois Tool Works

Several large investors have recently modified their holdings of the stock. Fairscale Capital LLC bought a new position in Illinois Tool Works in the 2nd quarter worth about $30,000. True Wealth Design LLC boosted its stake in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth about $32,000. Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter worth about $35,000. Finally, Financial Management Professionals Inc. boosted its stake in Illinois Tool Works by 28.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 215 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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.