BidaskClub downgraded shares of Illinois Tool Works Inc. (NYSE:ITW) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Several other equities research analysts also recently commented on ITW. Royal Bank Of Canada increased their price objective on Illinois Tool Works from $141.00 to $143.00 and gave the company a sector perform rating in a report on Tuesday, July 25th. BMO Capital Markets reaffirmed a buy rating and set a $160.00 price target on shares of Illinois Tool Works in a report on Thursday, July 20th. Jefferies Group LLC reiterated a buy rating and set a $170.00 price objective (up previously from $155.00) on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Credit Suisse Group set a $141.00 price objective on Illinois Tool Works and gave the stock a hold rating in a research report on Tuesday, July 25th. Finally, Northcoast Research reiterated a neutral rating on shares of Illinois Tool Works in a research report on Tuesday, July 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $153.08.

Illinois Tool Works (NYSE:ITW) traded up 0.05% during mid-day trading on Thursday, reaching $140.90. 517,323 shares of the company’s stock were exchanged. Illinois Tool Works has a 52-week low of $111.50 and a 52-week high of $150.29. The company has a market cap of $48.57 billion, a PE ratio of 22.80 and a beta of 1.12. The stock has a 50-day moving average price of $145.23 and a 200 day moving average price of $136.28.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.63 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 46.57% and a net margin of 15.50%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Equities analysts predict that Illinois Tool Works will post $6.45 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, June 28th. Illinois Tool Works’s dividend payout ratio is presently 42.07%.

In other Illinois Tool Works news, insider John R. Hartnett sold 11,750 shares of Illinois Tool Works stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $144.96, for a total value of $1,703,280.00. Following the transaction, the insider now owns 23,839 shares in the company, valued at $3,455,701.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of Illinois Tool Works stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $144.00, for a total value of $5,251,248.00. Following the completion of the transaction, the insider now owns 55,878 shares in the company, valued at approximately $8,046,432. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,961 shares of company stock worth $28,311,650. Company insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FCM Investments TX acquired a new position in Illinois Tool Works during the first quarter worth about $106,000. MCF Advisors LLC boosted its position in Illinois Tool Works by 32.0% in the first quarter. MCF Advisors LLC now owns 825 shares of the industrial products company’s stock worth $109,000 after buying an additional 200 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in Illinois Tool Works by 88.3% in the first quarter. TrimTabs Asset Management LLC now owns 887 shares of the industrial products company’s stock worth $118,000 after buying an additional 416 shares in the last quarter. FNY Partners Fund LP acquired a new position in Illinois Tool Works during the first quarter worth about $132,000. Finally, Hudock Capital Group LLC boosted its position in Illinois Tool Works by 0.6% in the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock worth $139,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 75.32% of the company’s stock.

About Illinois Tool Works

Illinois Tool Works Inc is a manufacturer of industrial products and equipment. The Company operates through seven segments. The Automotive OEM segment produces components and fasteners for automotive-related applications. The Food Equipment segment offers commercial food equipment. The Test & Measurement and Electronics segment produces test and measurement, and electronic manufacturing and maintenance, repair and operations (MRO) solutions.

Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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