Wolfe Research began coverage on shares of Illinois Tool Works (NYSE:ITW) in a research report report published on Wednesday morning. The brokerage issued an underperform rating on the industrial products company’s stock.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their target price on Illinois Tool Works from $162.00 to $156.00 and set a hold rating on the stock in a research report on Friday, April 27th. BMO Capital Markets cut their target price on Illinois Tool Works from $175.00 to $160.00 and set a market perform rating on the stock in a research report on Friday, May 4th. Goldman Sachs Group raised Illinois Tool Works from a buy rating to a conviction-buy rating and cut their target price for the company from $191.00 to $177.00 in a research report on Tuesday, April 10th. Zacks Investment Research downgraded Illinois Tool Works from a buy rating to a hold rating in a research report on Monday, March 19th. Finally, JPMorgan Chase & Co. cut their target price on Illinois Tool Works from $168.00 to $155.00 and set a neutral rating on the stock in a research report on Tuesday, April 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $175.40.
NYSE ITW opened at $141.00 on Wednesday. The company has a market cap of $47.75 billion, a PE ratio of 21.40, a P/E/G ratio of 1.79 and a beta of 1.23. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.74 and a current ratio of 2.20. Illinois Tool Works has a fifty-two week low of $135.07 and a fifty-two week high of $179.07.
Illinois Tool Works (NYSE:ITW) last released its earnings results on Thursday, April 26th. The industrial products company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.04. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Illinois Tool Works had a return on equity of 51.79% and a net margin of 12.36%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. equities analysts expect that Illinois Tool Works will post 7.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 29th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, June 28th. Illinois Tool Works’s dividend payout ratio (DPR) is presently 47.34%.
Institutional investors have recently made changes to their positions in the business. Almanack Investment Partners LLC. purchased a new stake in shares of Illinois Tool Works in the 4th quarter worth $112,000. Clearwater Capital Advisors LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter worth $117,000. Parisi Gray Wealth Management lifted its holdings in shares of Illinois Tool Works by 88.8% in the 1st quarter. Parisi Gray Wealth Management now owns 791 shares of the industrial products company’s stock worth $123,000 after buying an additional 372 shares during the period. Archford Capital Strategies LLC purchased a new stake in shares of Illinois Tool Works in the 1st quarter worth $130,000. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Illinois Tool Works by 15,135.9% in the 1st quarter. Summit Trail Advisors LLC now owns 132,248 shares of the industrial products company’s stock worth $132,000 after buying an additional 131,380 shares during the period. 77.02% 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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