Illinois Tool Works (NYSE:ITW) Price Target Raised to $290.00

Illinois Tool Works (NYSE:ITW) had its price objective raised by Jefferies Financial Group from $255.00 to $290.00 in a research note released on Friday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus increased their price objective on shares of Illinois Tool Works from $260.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Illinois Tool Works from $236.00 to $250.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Robert W. Baird increased their price objective on shares of Illinois Tool Works from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Barclays raised Illinois Tool Works from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $230.00 to $270.00 in a report on Thursday. Finally, Evercore ISI lowered Illinois Tool Works from an “in-line” rating to an “underperform” rating and increased their price target for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $266.30.

Illinois Tool Works Stock Performance

Shares of NYSE ITW opened at $273.53 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97. Illinois Tool Works has a 1 year low of $232.77 and a 1 year high of $279.13. The firm has a fifty day moving average price of $265.95 and a 200-day moving average price of $251.70. The stock has a market cap of $80.77 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.12. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.55 earnings per share. Equities analysts anticipate that Illinois Tool Works will post 10.13 earnings per share 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 issued a dividend of $1.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 annualized dividend and a yield of 2.19%. Illinois Tool Works’s payout ratio is presently 51.90%.

Institutional Investors Weigh In On Illinois Tool Works

Several institutional investors have recently made changes to their positions in ITW. True Wealth Design LLC raised its position in Illinois Tool Works by 1,060.0% in the 3rd quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Illinois Tool Works in the second quarter worth approximately $30,000. Catalyst Capital Advisors LLC bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new position in Illinois Tool Works during the 2nd quarter valued at $30,000. Finally, Northwest Investment Counselors LLC bought a new position in Illinois Tool Works in the 3rd quarter valued at $35,000. Institutional investors own 79.77% of the company’s stock.

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.