Illinois Tool Works Inc. (NYSE:ITW – Get Free Report) has been assigned an average rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $250.22.
Several equities analysts recently issued reports on the company. Truist Financial reduced their price target on Illinois Tool Works from $283.00 to $281.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Illinois Tool Works from $267.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Illinois Tool Works from $275.00 to $240.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Wells Fargo & Company raised their price target on shares of Illinois Tool Works from $230.00 to $236.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Illinois Tool Works from $268.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st.
Get Our Latest Stock Report on Illinois Tool Works
Hedge Funds Weigh In On Illinois Tool Works
Illinois Tool Works Trading Up 1.3 %
Shares of ITW opened at $255.13 on Tuesday. Illinois Tool Works has a fifty-two week low of $217.50 and a fifty-two week high of $271.15. The firm has a market cap of $76.13 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 3.93 and a beta of 1.10. The firm has a 50 day moving average price of $244.96 and a 200-day moving average price of $248.26. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.92 and a current ratio of 1.30.
Illinois Tool Works (NYSE:ITW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.09. Illinois Tool Works had a net margin of 19.15% and a return on equity of 99.74%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $2.41 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Illinois Tool Works will post 10.18 earnings per share for the current year.
Illinois Tool Works Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.50 per share. This is a positive change from Illinois Tool Works’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, September 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.35%. Illinois Tool Works’s payout ratio is presently 59.17%.
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.
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