Analysts Set Illinois Tool Works Inc. (NYSE:ITW) Price Target at $271.00

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) has been assigned an average rating of "Hold" from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $271.00.

A number of brokerages recently issued reports on ITW. Evercore ISI downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and increased their price target for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. Barclays reduced their price target on Illinois Tool Works from $265.00 to $262.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group increased their price target on Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced their price target on 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. Finally, StockNews.com downgraded Illinois Tool Works from a "buy" rating to a "hold" rating in a report on Thursday, February 6th.

Institutional Investors Weigh In On Illinois Tool Works

Several hedge funds have recently modified their holdings of the company. Nikulski Financial Inc. boosted its holdings in shares of Illinois Tool Works by 3.6% during the 3rd quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock valued at $290,000 after acquiring an additional 39 shares in the last quarter. Baron Wealth Management LLC raised its position in Illinois Tool Works by 4.5% during the 4th quarter. Baron Wealth Management LLC now owns 910 shares of the industrial products company's stock worth $231,000 after purchasing an additional 39 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Illinois Tool Works by 2.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock worth $423,000 after purchasing an additional 40 shares during the last quarter. Sigma Planning Corp raised its position in Illinois Tool Works by 0.9% during the 3rd quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after purchasing an additional 41 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in Illinois Tool Works by 1.1% during the 3rd quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company's stock.

Illinois Tool Works Stock Performance

Shares of NYSE ITW traded down $2.11 during trading hours on Friday, reaching $257.98. 1,013,793 shares of the stock were exchanged, compared to its average volume of 986,927. The firm has a market capitalization of $76.18 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 4.79 and a beta of 1.11. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.97 and a current ratio of 1.36. Illinois Tool Works has a 52 week low of $232.77 and a 52 week high of $279.13. The stock's fifty day simple moving average is $258.13 and its 200 day simple moving average is $257.79.

Illinois Tool Works (NYSE:ITW - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $2.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.04. Illinois Tool Works had a return on equity of 95.39% and a net margin of 21.94%. Sell-side analysts predict that Illinois Tool Works will post 10.38 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.33%. Illinois Tool Works's dividend payout ratio (DPR) is 51.19%.

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.