Illinois Tool Works Inc. (NYSE:ITW) Receives Average Recommendation of “Hold” from Brokerages

Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $268.50.

Several analysts recently commented on ITW shares. Evercore ISI cut Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their target price for the company from $246.00 to $255.00 in a report on Wednesday, November 13th. Robert W. Baird upped their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on Illinois Tool Works from $236.00 to $250.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Truist Financial lifted their price target on shares of Illinois Tool Works from $312.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upped their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, December 6th.

Illinois Tool Works Price Performance

Illinois Tool Works stock opened at $259.17 on Thursday. The stock has a 50-day moving average price of $267.64 and a two-hundred day moving average price of $253.96. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13. The company has a market capitalization of $76.53 billion, a PE ratio of 22.42, a P/E/G ratio of 4.23 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.94.

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

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is currently 51.90%.

Hedge Funds Weigh In On Illinois Tool Works

Several institutional investors have recently bought and sold shares of the company. True Wealth Design LLC lifted its position in shares of Illinois Tool Works by 1,060.0% during the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Illinois Tool Works during the second quarter valued at about $30,000. Catalyst Capital Advisors LLC bought a new position in Illinois Tool Works during the third quarter worth about $32,000. Northwest Investment Counselors LLC purchased a new position in shares of Illinois Tool Works in the third quarter worth about $35,000. Finally, Meeder Asset Management Inc. raised its position in shares of Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 79.77% of the company’s stock.

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.