Illinois Tool Works Inc. (NYSE:ITW) Receives Average Rating of “Hold” from Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $269.30.

Several equities analysts have weighed in on ITW shares. Evercore ISI dropped their target price on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating for the company in a report on Wednesday. Truist Financial raised their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Robert W. Baird upped their target price on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their target price on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup reduced their price objective on Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th.

Hedge Funds Weigh In On Illinois Tool Works

A number of large investors have recently bought and sold shares of the stock. Prudent Man Investment Management Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth $25,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $26,000. Glass Jacobson Investment Advisors llc increased its stake in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 84 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter worth about $28,000. Finally, True Wealth Design LLC lifted its stake in shares of 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 valued at $30,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 79.77% of the company’s stock.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $265.42 on Friday. The firm has a market capitalization of $77.90 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 4.49 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 0.99. The business’s 50 day simple moving average is $257.23 and its 200-day simple moving average is $258.12. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. As a group, equities analysts forecast that Illinois Tool Works will post 10.41 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $1.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.26%. Illinois Tool Works’s payout ratio is 51.19%.

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.