Illinois Tool Works (NYSE:ITW) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Illinois Tool Works (NYSE:ITW – Get Rating) in a research report sent to investors on Thursday. The firm issued a buy rating on the industrial products company’s stock.

Several other equities research analysts have also commented on the company. Robert W. Baird boosted their price target on Illinois Tool Works from $222.00 to $255.00 in a research note on Thursday, February 2nd. UBS Group boosted their price target on Illinois Tool Works from $213.00 to $245.00 and gave the stock a neutral rating in a research note on Thursday, February 9th. Barclays boosted their price target on Illinois Tool Works from $172.00 to $184.00 and gave the stock an underweight rating in a research note on Thursday, January 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Illinois Tool Works from $170.00 to $183.00 in a research note on Friday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Illinois Tool Works from $210.00 to $220.00 and gave the stock an equal weight rating in a research note on Thursday, January 19th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $223.07.

Illinois Tool Works Stock Performance

NYSE ITW opened at $229.81 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $234.04 and its two-hundred day moving average is $217.85. Illinois Tool Works has a 12-month low of $173.52 and a 12-month high of $253.37. The stock has a market capitalization of $70.11 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.49 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW – Get Rating) last released its earnings results on Thursday, February 2nd. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.26). Illinois Tool Works had a return on equity of 87.15% and a net margin of 19.04%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts expect that Illinois Tool Works will post 9.61 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, March 30th. Illinois Tool Works’s dividend payout ratio is presently 53.58%.

Insiders Place Their Bets

In other Illinois Tool Works news, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total transaction of $14,809,337.62. Following the transaction, the insider now owns 40,072 shares of the company’s stock, valued at approximately $9,868,130.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ernest Scott Santi sold 235,656 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.29, for a total transaction of $58,039,716.24. Following the completion of the sale, the chief executive officer now directly owns 213,538 shares in the company, valued at approximately $52,592,274.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Christopher A. O’herlihy sold 60,137 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $246.26, for a total value of $14,809,337.62. Following the sale, the insider now owns 40,072 shares of the company’s stock, valued at $9,868,130.72. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

Institutional Trading of Illinois Tool Works

A number of institutional investors and hedge funds have recently made changes to their positions in ITW. Cibc World Market Inc. increased its holdings in shares of Illinois Tool Works by 3.7% during the 1st quarter. Cibc World Market Inc. now owns 9,666 shares of the industrial products company’s stock worth $2,024,000 after buying an additional 348 shares during the last quarter. Cetera Investment Advisers increased its holdings in Illinois Tool Works by 4.2% in the 1st quarter. Cetera Investment Advisers now owns 9,070 shares of the industrial products company’s stock valued at $1,899,000 after purchasing an additional 368 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Illinois Tool Works by 54.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,859 shares of the industrial products company’s stock valued at $599,000 after purchasing an additional 1,011 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Illinois Tool Works by 9.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,407 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 217 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Illinois Tool Works by 70.7% in the 1st quarter. Covestor Ltd now owns 746 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 309 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Illinois Tool Works Company Profile

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Illinois Tool Works, Inc engages in the manufacture of industrial products and equipment. It operates through the following segments: Automotive OEM, Test and Measurement and Electronics, Food Equipment, Polymers and Fluids, Welding, Construction Products, and Specialty Products. The Automotive OEM segment produces components and fasteners for automotive-related applications.