Illinois Tool Works Inc. (ITW) Stock Rating Reaffirmed by Jefferies Group LLC
Illinois Tool Works Inc. (NYSE:ITW)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $145.00 target price on the stock. Jefferies Group LLC’s target price points to a potential upside of 7.23% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the stock. Goldman Sachs Group Inc downgraded shares of Illinois Tool Works from a “neutral” rating to a “sell” rating and reduced their price target for the company from $123.00 to $121.00 in a research report on Friday, February 17th. BMO Capital Markets upped their price target on shares of Illinois Tool Works from $120.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, December 6th. Zacks Investment Research upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating and set a $138.00 price target for the company in a research report on Thursday, January 19th. Royal Bank of Canada reiterated a “hold” rating and issued a $125.00 target price on shares of Illinois Tool Works in a research report on Friday, January 13th. Finally, Stifel Nicolaus increased their target price on shares of Illinois Tool Works from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Illinois Tool Works has an average rating of “Hold” and a consensus target price of $123.38.
Illinois Tool Works (NYSE:ITW) opened at 135.22 on Friday. Illinois Tool Works has a 12-month low of $98.32 and a 12-month high of $136.03. The firm has a market cap of $46.86 billion, a price-to-earnings ratio of 23.72 and a beta of 1.01. The company’s 50 day moving average is $130.96 and its 200 day moving average is $123.36.
Illinois Tool Works (NYSE:ITW) last issued its quarterly earnings results on Wednesday, January 25th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. The business earned $3.39 billion during the quarter, compared to the consensus estimate of $3.41 billion. Illinois Tool Works had a net margin of 14.96% and a return on equity of 41.90%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, equities analysts anticipate that Illinois Tool Works will post $6.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 11th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $2.60 annualized dividend and a dividend yield of 1.92%. Illinois Tool Works’s dividend payout ratio (DPR) is 45.61%.
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In other news, insider Sundaram Nagarajan sold 4,554 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $133.28, for a total transaction of $606,957.12. Following the transaction, the insider now owns 28,401 shares in the company, valued at approximately $3,785,285.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lei Zhang Schlitz sold 33,629 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $129.49, for a total transaction of $4,354,619.21. Following the transaction, the insider now owns 16,299 shares in the company, valued at approximately $2,110,557.51. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dubuque Bank & Trust Co. boosted its position in Illinois Tool Works by 43.5% in the third quarter. Dubuque Bank & Trust Co. now owns 890 shares of the company’s stock valued at $107,000 after buying an additional 270 shares during the period. M&R Capital Management Inc. boosted its position in Illinois Tool Works by 4.2% in the fourth quarter. M&R Capital Management Inc. now owns 947 shares of the company’s stock valued at $115,000 after buying an additional 38 shares during the period. Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.5% in the third quarter. Hudock Capital Group LLC now owns 1,042 shares of the company’s stock valued at $124,000 after buying an additional 5 shares during the period. Taylor Wealth Management Partners boosted its position in Illinois Tool Works by 26.5% in the third quarter. Taylor Wealth Management Partners now owns 1,075 shares of the company’s stock valued at $129,000 after buying an additional 225 shares during the period. Finally, Edmond de Rothschild Europe acquired a new position in Illinois Tool Works during the third quarter valued at about $131,000. Institutional investors own 74.80% of the company’s stock.
About Illinois Tool Works
Illinois Tool Works Inc (ITW) is a manufacturer of a range of industrial products and equipment. The Company operates through seven segments: Automotive OEM, Test & Measurement and Electronics, Food Equipment, Polymers & Fluids, Welding, Construction Products and Specialty Products. It produces components and fasteners for automotive-related applications; equipment, consumables and related software for testing and measuring of materials and structures, and equipment and consumables used in the production of electronic subassemblies and microelectronics; adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance; arc welding equipment, consumables and accessories for a range of industrial and commercial applications, and beverage packaging equipment and consumables, product coding and marking equipment, and consumables, and appliance components and fasteners.
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