Illinois Tool Works Inc. (NYSE:ITW) has received an average rating of “Hold” from the eighteen research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $161.38.
Several research firms have recently commented on ITW. Citigroup lifted their price target on Illinois Tool Works from $145.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $160.00 to $156.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Jefferies Financial Group cut shares of Illinois Tool Works from a “buy” rating to a “hold” rating and dropped their price target for the company from $208.00 to $145.00 in a research note on Tuesday, March 31st. Deutsche Bank raised shares of Illinois Tool Works from a “sell” rating to a “hold” rating and lifted their price target for the company from $124.00 to $148.00 in a research report on Tuesday, May 5th. Finally, Zacks Investment Research upgraded Illinois Tool Works from a “sell” rating to a “hold” rating and set a $187.00 price objective for the company in a research report on Thursday, May 28th.
Shares of Illinois Tool Works stock traded down $3.14 on Friday, hitting $167.82. 2,663,567 shares of the company were exchanged, compared to its average volume of 1,446,808. The company has a quick ratio of 2.13, a current ratio of 2.71 and a debt-to-equity ratio of 3.37. The company has a 50-day moving average price of $167.78 and a 200 day moving average price of $168.20. The stock has a market capitalization of $54.01 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 4.37 and a beta of 1.16. Illinois Tool Works has a 1-year low of $115.94 and a 1-year high of $190.85.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, June 29th. Illinois Tool Works’s dividend payout ratio is currently 55.23%.
In related news, CEO Ernest Scott Santi acquired 6,300 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $158.42 per share, with a total value of $998,046.00. Following the completion of the transaction, the chief executive officer now owns 141,994 shares of the company’s stock, valued at $22,494,689.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Lenny acquired 1,575 shares of Illinois Tool Works stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $159.19 per share, for a total transaction of $250,724.25. The disclosure for this purchase can be found here. 0.79% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ITW. Elmwood Wealth Management Inc. acquired a new position in shares of Illinois Tool Works during the first quarter worth about $27,000. Filbrandt Wealth Management LLC purchased a new stake in shares of Illinois Tool Works in the 4th quarter valued at approximately $52,000. Raab & Moskowitz Asset Management LLC acquired a new stake in shares of Illinois Tool Works in the 4th quarter valued at $57,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Illinois Tool Works during the 4th quarter worth $58,000. Finally, Veritas Investment Management LLP acquired a new position in shares of Illinois Tool Works during the first quarter worth $51,000. 78.93% of the stock is currently owned by institutional investors.
About Illinois Tool Works
Illinois Tool Works Inc manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.
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