Illinois Tool Works Inc. (NYSE:ITW) Receives Consensus Rating of "Hold" from Analysts

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) has been given an average recommendation of "Hold" by the eleven brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $256.40.

ITW has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Illinois Tool Works from $236.00 to $250.00 and gave the stock an "underweight" rating in a research report on Monday, October 7th. Jefferies Financial Group lowered their target price on 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. Stifel Nicolaus upped their price target on Illinois Tool Works from $260.00 to $262.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Truist Financial lifted their price objective on shares of Illinois Tool Works from $281.00 to $312.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Illinois Tool Works from $267.00 to $270.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st.

Illinois Tool Works Stock Up 3.4 %

Shares of ITW stock traded up $9.04 during trading hours on Wednesday, reaching $275.47. 1,151,612 shares of the stock were exchanged, compared to its average volume of 1,062,604. The business's fifty day moving average is $256.24 and its two-hundred day moving average is $247.61. The firm has a market capitalization of $81.35 billion, a P/E ratio of 23.05, a P/E/G ratio of 3.84 and a beta of 1.10. Illinois Tool Works has a 12-month low of $227.66 and a 12-month high of $277.58. 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 (NYSE:ITW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.12. The firm had revenue of $3.97 billion during 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%. During the same quarter in the previous year, the business earned $2.55 earnings per share. The firm's revenue was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Illinois Tool Works will post 10.75 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.00 dividend on an annualized basis and a yield of 2.18%. Illinois Tool Works's dividend payout ratio (DPR) is presently 51.90%.

Institutional Trading of Illinois Tool Works

A number of institutional investors have recently bought and sold shares of ITW. Financial Connections Group Inc. acquired a new position in shares of Illinois Tool Works during the 2nd quarter worth approximately $30,000. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter worth $30,000. Catalyst Capital Advisors LLC purchased a new stake in Illinois Tool Works during the 3rd quarter worth about $32,000. Northwest Investment Counselors LLC acquired a new position in Illinois Tool Works in the 3rd quarter valued at about $35,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of Illinois Tool Works by 261.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company's stock worth $38,000 after purchasing an additional 115 shares during the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

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.