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

Shares of Illinois Tool Works Inc. (NYSE:ITW) have earned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $269.10.

A number of analysts have recently weighed in on ITW shares. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Evercore ISI dropped their price target on shares of Illinois Tool Works from $255.00 to $252.00 and set an “underperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded shares of Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Illinois Tool Works from a “sell” rating to a “hold” rating and set a $257.00 price objective on the stock in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th.

Insider Activity

In related news, Director Ernest Scott Santi sold 70,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total value of $18,431,000.00. Following the completion of the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at approximately $68,516,979.20. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ITW. Prudent Man Investment Management Inc. purchased a new position in shares of Illinois Tool Works in the fourth quarter valued at $25,000. Redwood Park Advisors LLC purchased a new position in Illinois Tool Works during the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Illinois Tool Works during the fourth quarter worth $28,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of 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 purchasing an additional 84 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Trading Down 2.6 %

Shares of ITW opened at $267.47 on Tuesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.99 and a current ratio of 1.36. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. The firm has a 50 day moving average price of $257.80 and a 200-day moving average price of $260.30. The firm has a market cap of $78.50 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.56 and a beta of 1.13.

Illinois Tool Works (NYSE:ITW) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, equities research analysts forecast that Illinois Tool Works will post 10.39 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s payout ratio is currently 51.19%.

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.