Illinois Tool Works Inc. (NYSE:ITW) Receives $270.11 Average Target Price from Brokerages

Illinois Tool Works Inc. (NYSE:ITW - Get Free Report) has been assigned an average rating of "Hold" from the ten ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $270.11.

Several research firms recently issued reports on ITW. Citigroup dropped their price target on Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a "hold" rating in a report on Wednesday, December 11th. Jefferies Financial Group increased their price objective on shares of Illinois Tool Works from $255.00 to $290.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Evercore ISI downgraded Illinois Tool Works from an "in-line" rating to an "underperform" rating and lifted their target price for the company from $246.00 to $255.00 in a research note on Wednesday, November 13th. Finally, Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a "buy" rating in a report on Thursday, December 19th.

Institutional Trading of Illinois Tool Works

Hedge funds have recently modified their holdings of the business. Endeavor Private Wealth Inc. purchased a new stake in Illinois Tool Works in the 4th quarter worth about $90,000. Raleigh Capital Management Inc. lifted its position in shares of Illinois Tool Works by 7.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 810 shares of the industrial products company's stock worth $205,000 after purchasing an additional 57 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Illinois Tool Works by 4.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 220,917 shares of the industrial products company's stock worth $56,016,000 after purchasing an additional 8,906 shares during the period. Davis Capital Management grew its position in Illinois Tool Works by 198.4% during the fourth quarter. Davis Capital Management now owns 746 shares of the industrial products company's stock valued at $189,000 after purchasing an additional 496 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Illinois Tool Works by 3.2% in the 4th quarter. Simon Quick Advisors LLC now owns 2,247 shares of the industrial products company's stock valued at $570,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 79.77% of the company's stock.

Illinois Tool Works Stock Up 0.2 %

NYSE ITW traded up $0.57 during trading hours on Monday, hitting $256.50. The company had a trading volume of 844,760 shares, compared to its average volume of 768,759. The firm's 50 day moving average is $264.26 and its 200 day moving average is $255.73. The company has a market capitalization of $75.74 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 3.55 and a beta of 1.11. Illinois Tool Works has a fifty-two week low of $232.77 and a fifty-two week high of $279.13. 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 EPS for the quarter, topping analysts' consensus estimates of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period in the previous year, the company posted $2.55 earnings per share. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Illinois Tool Works will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Tuesday, December 31st. Illinois Tool Works's dividend payout ratio (DPR) is currently 51.90%.

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.