Illinois Tool Works (ITW) Price Target Increased to $145.00 by Analysts at Stifel Nicolaus

Illinois Tool Works (NYSE:ITW) had its target price upped by Stifel Nicolaus from $137.00 to $145.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. They currently have a hold rating on the industrial products company’s stock.

ITW has been the topic of a number of other reports. Morgan Stanley downgraded Illinois Tool Works from an equal weight rating to an underweight rating and decreased their target price for the stock from $131.00 to $115.00 in a research report on Tuesday, December 18th. JPMorgan Chase & Co. downgraded Illinois Tool Works from a neutral rating to an underweight rating and set a $120.00 target price on the stock. in a research report on Thursday, January 10th. Credit Suisse Group reiterated a hold rating on shares of Illinois Tool Works in a research report on Friday, February 1st. Bank of America downgraded Illinois Tool Works from a neutral rating to an underperform rating and decreased their target price for the stock from $128.00 to $124.00 in a research report on Tuesday, February 5th. Finally, Citigroup downgraded Illinois Tool Works from a buy rating to a neutral rating and set a $144.00 target price on the stock. in a research report on Monday, January 14th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Illinois Tool Works presently has a consensus rating of Hold and an average target price of $136.60.

Illinois Tool Works stock opened at $157.75 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 1.85. Illinois Tool Works has a 1-year low of $117.75 and a 1-year high of $160.21. The company has a market capitalization of $50.88 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 2.54 and a beta of 1.19.

Illinois Tool Works (NYSE:ITW) last posted its quarterly earnings results on Friday, February 1st. The industrial products company reported $1.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.01. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. Illinois Tool Works had a return on equity of 69.48% and a net margin of 17.35%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 earnings per share. On average, equities analysts anticipate that Illinois Tool Works will post 7.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 29th were given a $1.00 dividend. The ex-dividend date was Thursday, March 28th. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. Illinois Tool Works’s dividend payout ratio is currently 52.63%.

In other news, EVP John R. Hartnett sold 14,500 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $137.00, for a total value of $1,986,500.00. Following the sale, the executive vice president now directly owns 29,448 shares in the company, valued at $4,034,376. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Christopher A. O’herlihy sold 43,554 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.79, for a total value of $6,349,737.66. Following the completion of the sale, the insider now owns 71,927 shares in the company, valued at $10,486,237.33. The disclosure for this sale can be found here. Insiders sold 128,970 shares of company stock worth $18,348,472 over the last 90 days. Company insiders own 0.87% of the company’s stock.

Several large investors have recently modified their holdings of the company. Farmers Trust Co. increased its stake in Illinois Tool Works by 4.0% in the first quarter. Farmers Trust Co. now owns 1,808 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 69 shares during the last quarter. Kaizen Advisory LLC increased its stake in Illinois Tool Works by 9.5% in the fourth quarter. Kaizen Advisory LLC now owns 819 shares of the industrial products company’s stock valued at $104,000 after purchasing an additional 71 shares during the last quarter. Exeter Financial LLC increased its stake in Illinois Tool Works by 1.0% in the first quarter. Exeter Financial LLC now owns 7,363 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 71 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Illinois Tool Works by 11.8% in the first quarter. Valeo Financial Advisors LLC now owns 713 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 75 shares during the last quarter. Finally, National Asset Management Inc. increased its stake in Illinois Tool Works by 3.5% in the fourth quarter. National Asset Management Inc. now owns 2,284 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.

Illinois Tool Works Company Profile

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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Analyst Recommendations for Illinois Tool Works (NYSE:ITW)

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