Illinois Tool Works Inc. (ITW) Receives “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their hold rating on shares of Illinois Tool Works Inc. (NYSE:ITW) in a report published on Wednesday, September 13th. They currently have a $143.00 price target on the industrial products company’s stock.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Illinois Tool Works from a buy rating to a hold rating in a research note on Monday, July 31st. Morgan Stanley reissued an equal weight rating and issued a $140.00 target price (up previously from $136.00) on shares of Illinois Tool Works in a research report on Monday, July 10th. Stifel Nicolaus reissued a hold rating and issued a $147.00 target price on shares of Illinois Tool Works in a research report on Wednesday, August 16th. BMO Capital Markets reissued a buy rating and issued a $160.00 target price on shares of Illinois Tool Works in a research report on Thursday, July 20th. Finally, Northcoast Research reaffirmed a neutral rating on shares of Illinois Tool Works in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $150.64.

Shares of Illinois Tool Works (NYSE ITW) opened at 147.40 on Wednesday. Illinois Tool Works has a 52-week low of $111.50 and a 52-week high of $150.29. The stock has a market cap of $50.73 billion, a PE ratio of 23.85 and a beta of 1.11. The company’s 50-day moving average price is $139.67 and its 200-day moving average price is $139.40.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Monday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. Illinois Tool Works had a net margin of 15.50% and a return on equity of 46.57%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast 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 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 2.12%. The ex-dividend date is Thursday, September 28th. Illinois Tool Works’s payout ratio is presently 42.07%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITW. Breton Hill Capital Ltd. raised its holdings in shares of Illinois Tool Works by 300.1% in the 1st quarter. Breton Hill Capital Ltd. now owns 8,283 shares of the industrial products company’s stock worth $1,097,000 after purchasing an additional 6,213 shares in the last quarter. FCM Investments TX acquired a new stake in shares of Illinois Tool Works during the first quarter valued at approximately $106,000. Hudock Capital Group LLC raised its holdings in shares of Illinois Tool Works by 0.6% during the first quarter. Hudock Capital Group LLC now owns 1,054 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 6 shares during the period. Reynders McVeigh Capital Management LLC raised its holdings in shares of Illinois Tool Works by 36.3% during the first quarter. Reynders McVeigh Capital Management LLC now owns 3,096 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 825 shares during the period. Finally, Essex Investment Management Co. LLC raised its holdings in shares of Illinois Tool Works by 0.9% during the first quarter. Essex Investment Management Co. LLC now owns 7,564 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 74.77% 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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