Illinois Tool Works Inc. (NYSE:ITW) has been given a consensus rating of “Hold” by the fourteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $152.67.
ITW has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) upgraded shares of Illinois Tool Works from a “sell” rating to a “buy” rating and lifted their target price for the company from $131.00 to $155.00 in a research note on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $140.00 target price (up from $136.00) on shares of Illinois Tool Works in a research note on Monday, July 10th. Credit Suisse Group set a $135.00 price target on shares of Illinois Tool Works and gave the company a “hold” rating in a research report on Wednesday, April 12th. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price target (up previously from $140.00) on shares of Illinois Tool Works in a research report on Saturday, April 29th. Finally, Barclays PLC lifted their price target on shares of Illinois Tool Works from $123.00 to $130.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th.
In other news, CEO Ernest Scott Santi sold 101,297 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 191,142 shares in the company, valued at approximately $26,383,330.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Christopher A. O’herlihy sold 36,467 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.00, for a total transaction of $5,251,248.00. Following the completion of the sale, 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. Insiders sold a total of 201,961 shares of company stock worth $28,311,650 in the last three months. Insiders own 0.90% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Cornerstone Advisory LLP purchased a new stake in shares of Illinois Tool Works during the second quarter valued at approximately $324,000. Good Life Advisors LLC increased its position in shares of Illinois Tool Works by 3.0% in the second quarter. Good Life Advisors LLC now owns 1,684 shares of the industrial products company’s stock valued at $246,000 after buying an additional 49 shares during the period. Sullivan Bruyette Speros & Blaney LLC increased its position in shares of Illinois Tool Works by 1.1% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,102 shares of the industrial products company’s stock valued at $301,000 after buying an additional 22 shares during the period. BSW Wealth Partners increased its position in shares of Illinois Tool Works by 64.4% in the second quarter. BSW Wealth Partners now owns 2,567 shares of the industrial products company’s stock valued at $368,000 after buying an additional 1,006 shares during the period. Finally, Ray Gerald L & Associates Ltd. bought a new position in shares of Illinois Tool Works during the second quarter valued at about $232,000. Institutional investors own 74.77% of the company’s stock.
Illinois Tool Works (NYSE:ITW) opened at 141.34 on Tuesday. The stock has a market capitalization of $48.72 billion, a price-to-earnings ratio of 22.87 and a beta of 1.11. The firm has a 50-day moving average of $144.54 and a 200-day moving average of $136.84. Illinois Tool Works has a 1-year low of $111.50 and a 1-year 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, beating the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.46 earnings per share. Equities research analysts anticipate that Illinois Tool Works will post $6.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 29th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $0.65. Illinois Tool Works’s payout ratio is 42.07%.
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.
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