Illinois Tool Works (NYSE: ITW) has recently received a number of price target changes and ratings updates:

  • 8/3/2017 – Illinois Tool Works was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/1/2017 – Illinois Tool Works was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $158.00 price target on the stock. According to Zacks, “Year to date, Illinois Tool Works' shares have marginally outperformed the industry. In second-quarter 2017, the company's earnings of $1.66 per share surpassed its Zacks Consensus Estimates by 1.84%. Businesses in six of seven end-market segments were strong. For 2017, the company increased its earnings guidance to $6.32-$6.52 per share from the earlier projection of $6.20-$6.40. Organic revenue growth is expected to be 2-4% while total revenue is projected to be within $14.1-$14.2 billion, up from $13.9-$14.1 billion expected earlier. Enterprise initiatives are likely to contribute 100 basis points (bps) to operating margin growth.”
  • 7/31/2017 – Illinois Tool Works was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Year to date, Illinois Tool Works' shares have outperformed the industry. In second-quarter 2017, the company's earnings of $1.66 per share surpassed its Zacks Consensus Estimates by 1.84%. Businesses in six of seven end-market segments were strong. For 2017, the company increased its earnings guidance to $6.32-$6.52 per share from the earlier projection of $6.20-$6.40. Organic revenue growth is expected to be 2-4% while total revenue is projected to be within $14.1-$14.2 billion, up from $13.9-$14.1 billion expected earlier. Enterprise initiatives are likely to contribute 100 basis points (bps) to operating margin growth. However, the company is exposed to headwinds including unfavorable foreign currency movements, industry rivalry, volatilities in input price & supply and economic uncertainties.”
  • 7/27/2017 – Illinois Tool Works was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/25/2017 – Illinois Tool Works had its price target raised by analysts at Royal Bank Of Canada from $141.00 to $143.00. They now have a “sector perform” rating on the stock.
  • 7/25/2017 – Illinois Tool Works had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $170.00 price target on the stock, up previously from $155.00.
  • 7/25/2017 – Illinois Tool Works had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $136.00 price target on the stock, down previously from $140.00.
  • 7/25/2017 – Illinois Tool Works had its “neutral” rating reaffirmed by analysts at Northcoast Research.
  • 7/25/2017 – Illinois Tool Works was given a new $141.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock.
  • 7/20/2017 – Illinois Tool Works had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $160.00 price target on the stock.
  • 7/14/2017 – Illinois Tool Works had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $147.00 price target on the stock.
  • 7/12/2017 – Illinois Tool Works was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $163.00 price target on the stock. According to Zacks, “In the last three months, Illinois Tool's shares have outperformed the Zacks categorized Machinery-General Industrial market. Over the long run, the company’s organic and inorganic growth tactics, its long-term Enterprise Strategy and sound capital allocation schemes will prove beneficial. For 2017, it increased its earnings guidance to $6.20-$6.40 per share. Organic revenue growth is expected to be 2-4%, an improvement over the prior forecast of 1.5-3.5%. Total revenue is anticipated to come within $13.9-$14.1 billion range. Over the last 60 days, earnings estimates on the stock increased for 2018. “
  • 7/10/2017 – Illinois Tool Works had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $140.00 price target on the stock, up previously from $136.00.
  • 7/4/2017 – Illinois Tool Works was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In the last three months, Illinois Tool's shares have outperformed the Zacks categorized Machinery-General Industrial market. Over the long run, the company’s organic and inorganic growth tactics, its long-term Enterprise Strategy and sound capital allocation schemes will prove beneficial. For 2017, it increased its earnings guidance to $6.20-$6.40 per share while organic revenue growth has been hiked to 2-4%. However, the company is exposed to headwinds including unfavorable foreign currency movements, industry rivalry, volatilities in input price & supply and economic uncertainties. In the last 60 days, earnings estimate on the stock remained stable for 2017.”
  • 6/24/2017 – Illinois Tool Works was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Shares of Illinois Tool Works Inc. (ITW) traded down 2.32% during mid-day trading on Thursday, reaching $137.47. 2,062,160 shares of the company’s stock were exchanged. The company has a market cap of $47.31 billion, a PE ratio of 22.24 and a beta of 1.11. The company’s 50-day moving average price is $143.83 and its 200 day moving average price is $137.32. Illinois Tool Works Inc. has a 52-week low of $111.50 and a 52-week high of $150.29.

Illinois Tool Works (NYSE:ITW) last posted its earnings results on Monday, July 24th. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. On average, equities research analysts predict that Illinois Tool Works Inc. will post $6.46 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 29th will be issued a $0.78 dividend. This is an increase from Illinois Tool Works’s previous quarterly dividend of $0.65. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is 42.07%.

In related news, CEO Ernest Scott Santi sold 101,297 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $138.03, for a total value of $13,982,024.91. Following the transaction, the chief executive officer now directly owns 191,142 shares of the company’s stock, valued at approximately $26,383,330.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael M. Larsen sold 52,447 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $140.62, for a total transaction of $7,375,097.14. Following the completion of the transaction, the chief financial officer now directly owns 67,383 shares in the company, valued at $9,475,397.46. The disclosure for this sale can be found here. Insiders sold a total of 201,961 shares of company stock worth $28,311,650 over the last three months. 0.90% of the stock is owned by insiders.

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.

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