Illinois Tool Works Inc. (NYSE:ITW) Given Average Recommendation of “Hold” by Analysts

Shares of Illinois Tool Works Inc. (NYSE:ITW) have received an average rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $256.40.

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI decreased their price objective on Illinois Tool Works from $251.00 to $246.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Truist Financial lifted their target price on Illinois Tool Works from $281.00 to $312.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird increased their price target on Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Institutional Investors Weigh In On Illinois Tool Works

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of Illinois Tool Works by 26,088.4% during the third quarter. International Assets Investment Management LLC now owns 323,427 shares of the industrial products company’s stock valued at $847,610,000 after acquiring an additional 322,192 shares in the last quarter. AXA S.A. lifted its holdings in shares of Illinois Tool Works by 242.3% in the 2nd quarter. AXA S.A. now owns 341,356 shares of the industrial products company’s stock worth $80,888,000 after buying an additional 241,618 shares during the period. Guinness Asset Management LTD grew its position in shares of Illinois Tool Works by 30.7% during the 2nd quarter. Guinness Asset Management LTD now owns 767,741 shares of the industrial products company’s stock worth $181,926,000 after buying an additional 180,458 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Illinois Tool Works by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,527,637 shares of the industrial products company’s stock valued at $361,998,000 after buying an additional 133,853 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Illinois Tool Works by 2,334.0% in the first quarter. SG Americas Securities LLC now owns 127,152 shares of the industrial products company’s stock valued at $34,119,000 after acquiring an additional 121,928 shares in the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Price Performance

ITW stock opened at $266.43 on Wednesday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The company’s fifty day moving average price is $256.24 and its 200-day moving average price is $247.61. Illinois Tool Works has a one year low of $227.66 and a one year high of $271.15. The company has a market capitalization of $78.68 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 3.84 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. The business had revenue of $3.97 billion during 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 business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, equities analysts anticipate that Illinois Tool Works will post 10.75 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio is presently 51.90%.

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.