Illinois Tool Works Inc. (NYSE:ITW) Given Consensus Recommendation of “Hold” by Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have been given an average rating of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $257.30.

ITW has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, October 7th. Truist Financial upped their price target on shares of Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird upped their price target on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays upped their price target on shares of Illinois Tool Works from $215.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, November 1st. Finally, Evercore ISI downgraded shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $246.00 to $255.00 in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Illinois Tool Works

Several hedge funds have recently bought and sold shares of ITW. Financial Connections Group Inc. acquired a new position in Illinois Tool Works during the second quarter worth $30,000. Fairscale Capital LLC acquired a new position in Illinois Tool Works during the second quarter worth $30,000. True Wealth Design LLC increased its position in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in Illinois Tool Works during the third quarter valued at about $32,000. Finally, Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works during the third quarter valued at about $35,000. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Price Performance

Shares of NYSE:ITW opened at $277.52 on Friday. The company’s fifty day moving average is $264.35 and its two-hundred day moving average is $250.77. The company has a quick ratio of 0.97, a current ratio of 1.36 and a debt-to-equity ratio of 1.94. Illinois Tool Works has a 12-month low of $232.77 and a 12-month high of $279.13. The company has a market cap of $81.95 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $2.55 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities analysts expect that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s payout ratio is 51.90%.

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.