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

Illinois Tool Works Inc. (NYSE:ITW) has received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $253.42.

A number of equities research analysts recently weighed in on ITW shares. Stifel Nicolaus raised their price objective on Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. Wall Street Zen downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial decreased their target price on Illinois Tool Works from $302.00 to $284.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Bank of America cut Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 price objective for the company. in a research report on Wednesday, May 7th.

Insider Buying and Selling at Illinois Tool Works

In other news, CEO Christopher A. O’herlihy sold 48,453 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $274.36, for a total value of $13,293,565.08. Following the transaction, the chief executive officer now owns 55,113 shares of the company’s stock, valued at $15,120,802.68. This represents a 46.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael M. Larsen sold 41,472 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the transaction, the chief financial officer now owns 50,502 shares of the company’s stock, valued at $13,698,667.50. This trade represents a 45.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Illinois Tool Works

Hedge funds have recently bought and sold shares of the stock. Prudent Man Investment Management Inc. acquired a new stake in shares of Illinois Tool Works during the 4th quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. Redwood Park Advisors LLC purchased a new position in shares of Illinois Tool Works in the 4th quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Illinois Tool Works in the 1st quarter valued at approximately $26,000. Finally, Glass Jacobson Investment Advisors llc grew its holdings in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

Illinois Tool Works Stock Performance

ITW stock opened at $245.34 on Friday. The firm has a market cap of $71.88 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 4.56 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a twelve month low of $214.66 and a twelve month high of $279.13. The business’s fifty day simple moving average is $240.30 and its two-hundred day simple moving average is $254.24.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.34 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts predict that Illinois Tool Works will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, June 30th. Illinois Tool Works’s payout ratio is currently 52.77%.

Illinois Tool Works Company Profile

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.