Illinois Tool Works Inc. (NYSE:ITW) Receives $271.00 Consensus Target Price from Brokerages

Illinois Tool Works Inc. (NYSE:ITW) has earned a consensus recommendation of “Hold” from the ten brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $271.00.

Several analysts have recently issued reports on ITW shares. Robert W. Baird upped their target price on shares of Illinois Tool Works from $240.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup reduced their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus reduced their target price on shares of Illinois Tool Works from $266.00 to $259.00 and set a “hold” rating for the company in a research note on Thursday, February 6th.

Institutional Investors Weigh In On Illinois Tool Works

Institutional investors have recently added to or reduced their stakes in the business. Prudent Man Investment Management Inc. purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $25,000. Redwood Park Advisors LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $26,000. Glass Jacobson Investment Advisors llc lifted its holdings in Illinois Tool Works by 336.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 109 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Illinois Tool Works during the fourth quarter valued at about $28,000. Finally, True Wealth Design LLC lifted its holdings in Illinois Tool Works by 1,060.0% during the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Illinois Tool Works Stock Performance

Shares of ITW stock opened at $262.03 on Friday. The firm has a market capitalization of $77.38 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 4.79 and a beta of 1.11. The firm has a fifty day simple moving average of $257.80 and a two-hundred day simple moving average of $257.90. The company has a current ratio of 1.36, a quick ratio of 0.97 and a debt-to-equity ratio of 1.90. Illinois Tool Works has a 12 month low of $232.77 and a 12 month high of $279.13.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. Analysts forecast that Illinois Tool Works will post 10.38 EPS for the current fiscal year.

Illinois Tool Works Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 yield of 2.29%. The ex-dividend date is Monday, March 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.19%.

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.