Illinois Tool Works Inc. (NYSE:ITW) Receives $257.00 Average Price Target from Analysts

Illinois Tool Works Inc. (NYSE:ITW) has been given an average recommendation of “Reduce” by the nine ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $257.00.

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus boosted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Truist Financial assumed coverage on Illinois Tool Works in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Barclays boosted their target price on Illinois Tool Works from $224.00 to $230.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Bank of America lowered Illinois Tool Works from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $260.00 to $235.00 in a research report on Wednesday, January 10th.

Illinois Tool Works Stock Down 0.2 %

Shares of Illinois Tool Works stock opened at $250.00 on Friday. The business’s fifty day moving average price is $260.40 and its two-hundred day moving average price is $251.19. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.33 and a quick ratio of 0.97. The company has a market capitalization of $74.69 billion, a P/E ratio of 25.67, a PEG ratio of 3.68 and a beta of 1.13. Illinois Tool Works has a 1-year low of $217.06 and a 1-year high of $271.15.

Illinois Tool Works (NYSE:ITW) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.01. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $4.01 billion. Illinois Tool Works had a return on equity of 96.60% and a net margin of 18.36%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. As a group, research analysts forecast that Illinois Tool Works will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, March 29th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.24%. Illinois Tool Works’s dividend payout ratio is 57.49%.

Insider Buying and Selling at Illinois Tool Works

In other Illinois Tool Works news, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $254.44, for a total value of $12,722,000.00. Following the transaction, the chairman now owns 221,015 shares in the company, valued at $56,235,056.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $265.06, for a total value of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares in the company, valued at $12,299,844.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ernest Scott Santi sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $254.44, for a total value of $12,722,000.00. Following the completion of the transaction, the chairman now owns 221,015 shares in the company, valued at approximately $56,235,056.60. The disclosure for this sale can be found here. Insiders have sold 189,471 shares of company stock worth $48,712,316 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Illinois Tool Works

Several large investors have recently made changes to their positions in ITW. Briaud Financial Planning Inc bought a new stake in shares of Illinois Tool Works during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Frazier Financial Advisors LLC bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $26,000. Financial Connections Group Inc. bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Finally, Security National Bank bought a new stake in shares of Illinois Tool Works during the 4th quarter worth about $28,000. Institutional investors own 79.77% of the company’s stock.

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.