Illinois Tool Works Inc. (NYSE: ITW) given the consensus rating of “keep” by brokerage firms
Illinois Tool Works Inc. (NYSE: ITW) received an average recommendation of “Keep” from the seventeen research companies that currently cover the company, reports MarketBeat. Two equity research analysts gave the stock a sell rating, ten assigned a conservation rating, and four gave the company a buy rating. The average one-year target price among brokers who reported on the stock in the past year is $ 226.88.
ITW has been the subject of several recent research reports. Credit Suisse Group increased its price target on Illinois Tool Works from $ 265.00 to $ 268.00 and gave the company an “outperformance” rating in a Monday August 2 research note. Citigroup raised its price target on Illinois Tool Works from $ 252.00 to $ 256.00 and gave the company a “neutral” rating in a research note on Monday, August 2. Wells Fargo & Company kicked off coverage on Illinois Tool Works in a research note Thursday. They issued an “equal weight” rating and a price target of $ 219.00 for the company. Deutsche Bank Aktiengesellschaft raised its price target on Illinois Tool Works from $ 227.00 to $ 238.00 and gave the company a “conservation” rating in a research note on Wednesday, July 14. Finally, Morgan Stanley reduced its price target on Illinois Tool Works from $ 208.00 to $ 198.00 and set an “underweight” rating for the company in a research note Thursday.
NYSE ITW traded up $ 0.17 during trading hours on Friday, reaching $ 215.42. The stock had a trade volume of 6,787 shares, compared to its average volume of 994,782. The stock has a fifty-day moving average of $ 223.52 and a 200-day moving average of $ 226.36 . The stock has a market cap of $ 67.85 billion, a P / E ratio of 25.59, a price / earnings-growth ratio of 2.16, and a beta of 1.08. Illinois Tool Works has a 52-week low of $ 192.29 and a 52-week high of $ 242.07. The company has a debt to equity ratio of 2.00, a quick ratio of 1.73, and a current ratio of 2.20.
Illinois Tool Works (NYSE: ITW) last released its quarterly earnings data on Friday, July 30. The industrials company reported EPS of $ 2.10 for the quarter, beating the Thomson Reuters consensus estimate of $ 2.09 by $ 0.01. Illinois Tool Works reported a return on equity of 81.66% and a net margin of 19.07%. The company posted revenue of $ 3.68 billion for the quarter, compared to analysts’ estimates of $ 3.56 billion. In the same quarter of the previous year, the company posted EPS of $ 1.01. The company’s quarterly revenue is up 43.4% from the same quarter last year. On average, equity research analysts predict Illinois Tool Works will post 8.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 14. Shareholders of record on Thursday, September 30 will receive a dividend of $ 1.22 per share. This represents an annualized dividend of $ 4.88 and a dividend yield of 2.27%. The ex-dividend date is Wednesday, September 29. This is a positive change from Illinois Tool Works’ previous quarterly dividend of $ 1.14. Illinois Tool Works dividend payout ratio (DPR) is 69.71%.
Several hedge funds and other institutional investors have recently changed their holdings in the company. CIBC World Markets Inc. increased its position in Illinois Tool Works by 298.9% in the first quarter. CIBC World Markets Inc. now owns 11,082 shares of the industrial products company valued at $ 2,455,000 after purchasing an additional 8,304 shares during the period. Synovus Financial Corp increased its position in Illinois Tool Works by 1.8% in the first quarter. Synovus Financial Corp now owns 3,091 shares of the industrial products company valued at $ 685,000 after purchasing 56 additional shares during the period. Essex Financial Services Inc. increased its position in Illinois Tool Works by 41.1% in the first quarter. Essex Financial Services Inc. now owns 2,060 shares of the industrials company valued at $ 456,000 after purchasing an additional 600 shares during the period. Acadian Asset Management LLC increased its position in Illinois Tool Works by 13.9% during the first quarter. Acadian Asset Management LLC now owns 80,427 shares of the industrial products company valued at $ 17,817,000 after purchasing an additional 9,840 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV strengthened its position in Illinois Tool Works by 3.1% during the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 3,651 shares of the industrial products company valued at $ 809,000 after purchasing 109 additional shares during the period. 77.61% of the shares are currently held by institutional investors and hedge funds.
Illinois Tool Works Company Profile
Illinois Tool Works, Inc. is engaged in the manufacture of industrial products and equipment. It operates through the following segments: automotive OEM, test and measurement and electronics, food equipment, polymers and fluids, welding, construction products and specialty products. The Automotive OEM segment produces components and fasteners for automotive related applications.
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