Evercore ISI Has Lowered Expectations for Illinois Tool Works (NYSE:ITW) Stock Price

Illinois Tool Works (NYSE:ITW) had its price objective cut by Evercore ISI from $255.00 to $252.00 in a research report report published on Wednesday,Benzinga reports. They currently have an underperform rating on the industrial products company’s stock.

Several other analysts also recently weighed in on ITW. Stifel Nicolaus dropped their price objective on Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price objective on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Barclays dropped their price objective on Illinois Tool Works from $265.00 to $262.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Jefferies Financial Group upped their price objective on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $269.30.

Illinois Tool Works Stock Down 0.5 %

ITW stock opened at $264.30 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $77.57 billion, a PE ratio of 22.55, a PEG ratio of 4.52 and a beta of 1.11. Illinois Tool Works has a 1-year low of $232.77 and a 1-year high of $279.13. The business’s 50 day simple moving average is $257.08 and its 200 day simple moving average is $258.29.

Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating 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, research analysts anticipate that Illinois Tool Works will post 10.41 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.27%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is currently 51.19%.

Insiders Place Their Bets

In related news, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the completion of the sale, the director now directly owns 260,224 shares in the company, valued at $68,516,979.20. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ascent Group LLC lifted its stake in shares of Illinois Tool Works by 15.6% in the 4th quarter. Ascent Group LLC now owns 4,739 shares of the industrial products company’s stock valued at $1,202,000 after purchasing an additional 640 shares during the period. Putney Financial Group LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $76,000. Aurdan Capital Management LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $2,094,000. Toronto Dominion Bank lifted its stake in shares of Illinois Tool Works by 7.4% in the 4th quarter. Toronto Dominion Bank now owns 130,387 shares of the industrial products company’s stock valued at $33,061,000 after purchasing an additional 8,975 shares during the period. Finally, North Star Asset Management Inc. lifted its stake in shares of Illinois Tool Works by 0.5% in the 4th quarter. North Star Asset Management Inc. now owns 30,365 shares of the industrial products company’s stock valued at $7,699,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

About Illinois Tool Works

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.